Bharti Airtel’s subsidiary -- Airtel Africa has proposed to raise $194 million (about Rs 1,475 crore) through debt from the International Finance Corporation (IFC). IFC will support the project with a debt package of up to $150 million from its own account and up to $44 million in mobilisation from MCPP (Managed Co-Lending Portfolio Program) funds.
The funds will be used to support Airtel Africa’s operations and investments across seven subsidiaries in Sub-Saharan Africa. These include Chad, Democratic Republic of Congo, Kenya, Madagascar, Niger, Republic of Congo and Zambia.
Bharti Airtel is a leading integrated telecommunications company with operations across Asia and Africa.
