NIB finances Russian MegaFon’s investments in network upgrade

NIB and the Russian telecommunications operator OJSC MegaFon have signed a new loan agreement totalling EUR 80 million.

The 7-year-maturity deal is aimed at financing MegaFon’s investments into the upgrading of its cellular network in the Moscow region and other regions of Russia to improve the network performance and prepare for the 4G service roll-out. In making the upgrades, MegaFon will deploy Nokia Siemens Networks’ single radio access network technology.

Established in 2002, MegaFon became the first operator with a network covering all regions of Russia. The company now has over 63 million mobile and fixed-line subscribers. Swedish-Finnish TeliaSonera is one of the major shareholders in MegaFon.

NIB is a multilateral financial institution owned by eight member countries: Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway and Sweden. The Bank finances private and public projects in and outside the member countries. NIB has the highest possible credit rating, AAA/Aaa, with the leading rating agencies Standard & Poor’s and Moody’s.

For further information, please contact

Ms Marjo Harri, Senior Manager Origination, at +358 10 618 0227,

Mr Dimitrijs Alehins, Senior Communications Specialist, at +358 10 618 0296,