Karachi, Pakistan – 18 August 2022: InfraZamin Pakistan’s partial credit risk guarantee cover of PKR 1,575 million (US$7.6 million) on the Digital Infrastructure Facility will effectively de-risk the majority of credit risks of this project expansion. This is InfraZamin’s first transaction in Pakistan and paves the way forward for deeper market development via credit guarantees.
HBL will facilitate Multinet to access 7-Year long-term funding in expanding their fibre optic network to under-served cities and populations, enable a wider reach for internet access via fibre for Small and Medium Enterprises and reduce the cost of carrying broadband traffic from one city to the other thereby improving cost-effective data and broadband penetration in Pakistan.
In addition to these positive developmental impacts, the project is also expected to create additional jobs of which 20% will be allocated specifically to women. Multinet has also chosen to adopt best practices in Health and Safety standards and will work on a long-term basis with an independent Health and Safety advisor to ensure worker safety and protection during network rollout. The company will continue to engage with InfraZamin to ensure continued capacity building and training in this area.
The project also envisages improved corporate governance, disclosure and transparency standards for Multinet which is a welcome step towards better governance standards in private unlisted companies.
Commenting on the occasion,...
Read Full Story: https://www.techjuice.pk/infrazamin-and-hbl-facilitates-multinet-for-greater-digital-reach-and-transmission-across-pakistan/
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