Jamaica to expand mobile network with Ex-Im Bank finance

Tuesday, December 30, 2003

WASHINGTON, USA: Cable and Wireless Jamaica Limited (CWJ) is purchasing U.S.-manufactured cellular communications and equipment from Nortel Networks Inc., and eight other U.S. exporters as part of a $173 million project, with the assistance of a $72.3 million, seven-year loan guarantee from the Export-Import Bank of the United States (Ex-Im Bank).

Cable and Wireless Jamaica, a majority-owned subsidiary of British-based Cable and Wireless PLC, has contracted with Nortel to create a general service mobile (GSM) network with island wide coverage and to upgrade CWJ's existing data-transmission landline network. Ex-Im Bank is guaranteeing a loan by Citibank N.A., of New York, N.Y., to CWJ.

"The United States provides the best in technologically sophisticated equipment such as this, which will help improve telecommunications service in Jamaica," Ex-Im Bank Chairman Philip Merrill said. "Ex-Im Bank is pleased to support exports like these, which benefit workers and companies in the United States, as well as people in emerging markets like Jamaica."

  Back...

  Most popular articles: viewed, printed and e-mailed

  Printable version