Doha: Vodafone Qatar has entered into an agreement for a QAR911 million medium term revolving credit facility with Barwa Bank, available over a 6-year period. The Credit Facility will be used to accelerate the Telecommunication Companys fixed services rollout and 5G deployment in the country.
Commenting on the agreement, HE CEO of Vodafone Qatar Sheikh Hamad bin Abdullah bin Jassim Al-Thani, said: "We are appreciative of Barwa Banks support in arranging this attractive financing and look forward to a strong long term relationship with them. With this Credit Facility we are reinforcing our commitment to drive the countrys digital transformation in support of Qatar National Vision 2030".
for his part, Group Chief Executive Officer at Barwa Bank Group Khalid Al Subeai said that this credit facility follows Barwa Banks strategy which is closely aligned with Qatars National Vision 2030. As one of the leading Islamic Banks in the country, Barwa Bank has provided Islamic financing solutions to several key entities that are contributing to the countrys GDP and are participating in the countrys development.
He added that the bank has been actively involved in financing large projects while ensuring they participate in and contribute to the diversification of Qatars economy.
Vodafone Qatar commenced commercial operations in Qatar on 1 March 2009. In October 2012 Vodafone Qatar launched a comprehensive range of fibre-based enterprise grade and residential fixed products and services.
