Russian telco MTS signs $300 million credit agreement with BRICS development bank

MOSCOW: Russia’s biggest mobile phone operator MTS on Friday said it had signed a $300 million credit agreement with the New Development Bank (NDB) to improve its digital infrastructure, including rural network coverage and cloud computing.

The NDB was established by Brazil, Russia, India, China and South Africa, a group of emerging economies known as the BRICS.

NDB President Marcos Troyjo said the bank was committed to developing tech-intensive infrastructure in its member countries and that this loan agreement was the first digital infrastructure project it had supported.