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New Palestinian mobile network receives funding February 9, 2009

Posted by aikservices in Financial, GSM, Palestine, Qtel, Wataniya.
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International Finance Corp (IFC), the private-sector lending arm of the World Bank, is to invest USD 30 million in a new operator building a mobile network in Palestine’s West Bank. The operator, known as Wataniya Palestine, is a joint-venture between the Palestine Investment Fund (PIF) and Wataniya Telecom, which is majority-owned by Qatar’s Qtel. “The network being built by Wataniya Palestine will use the internationally popular GSM standard,” Allan Richardson, Wataniya’s chief executive, told Reuters. The operator received its GSM license, the second to be issued in Palestine, in September 2006. IFC said its investment was driven by the desire to provide jobs and help make mobile services more affordable and more widely available in the Palestinian territories. 

Mobile Industry News

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