E/W TELECOMMUNICATIO

closed

The part of the expansion program, which it is to undertake with IDA financing, consists of the provision of cables for the subscribers' distribution network, extension of the openwire long-distance improvement of high-frequency radio facilities and the employment of consultants in connection with the reorganization of the Department. The above specific works are estimated to cost US$41.8 million. The loan of US$16 million will cover the foreign exchange costs of these works. The balance of funds required for the program will be provided from T&T's own funds generated from is operations supplemented by some $45 million equivalent of bilateral loans and suppliers' credits. A substantial part of the supplementary external financing has been arranged. The Credit Agreement obligates the Borrower to use its best efforts to obtain the balance.