Locko-Bank contributes to the bridging the digital divide elimination in Russia

The company "TransProektEngineering" Ltd (TPI), 100% subsidiary of Locko-Bank became the general contractor of OJSC "Rostelecom" under the project "Bridging the digital divide." The agreement was signed by representatives of the companies at the end of 2015.

Locko-Bank acts as a financial partner of TPI under agreement conditions and established a RUB 1 billion credit line to the client for the implementation of the project in 2016. In addition, Locko-Bank stands ready to provide funding gap to subcontracting organizations of small and medium-sized businesses and to large enterprises involved in the project.

The goal of the project is to provide internet connection with the channel at least 10 Mbit / s for more than 13.6 thousand settlements in Russian Federation with population from 250 to 500 people. According to the signed agreement, TPI will ensure the construction of the world’s biggest fiber-optic communication lines (FOCL) with a length of 200 thousand kilometers, including design and survey, installation and construction and other work.

TPI choice as a contractor is conditioned by company’s experience in implementation of major engineering projects, including communication networks organization, according to the required pace of work by Rostelecom for the fulfillment of the obligations under the contract. TPI has appropriate licenses and permits for the entire range of works - from the registration of the initial permit documentation to substantial completion stage.

Stanislav Boguslavsky, Chairman of the Board of Directors, commented:

Large public projects such as the" Bridging the Digital Divide", require a reliable financial partner, and during an unstable economic situation this matter becomes the topical issue. LOCKO-Bank, acting as a financial partner of the project general contractor, demonstrates its concernment and willingness to participate in financing of national interest projects."

According to the federal law "On Communications", the project "Bridging the Digital Divide" stipulates the providing the main Internet and WiFi-hotspots until 2020 to settlements throughout the territory of the Russian Federation with a population of 250 to 500 people. This project will provide advanced data services and provide access to the "Internet" information and telecommunications network in more than 13 600 settlements with a total population of over 4 million people.