JAZZ has secured a private sector syndicated credit facility, totalling up to Rs75 billion, as per a press release.

The banking consortium was led by The Bank of Punjab (BoP), and this 10-year financing arrangement will significantly support Jazz`s ongoing 4G network expansion and technological upgrades while supporting its new ServiceCo model.

The signing ceremony, held at a local hotel in Karachi, was attended by VEON Group CEO Kaan Terzioglu, CEO of Jazz Aamir Ibrahim, and the presidents of participating banks along with their representatives.

Mr Ibrahim remarked on the occasion, `This transaction reflects the financial community`s trust in Jazz`s market reputation and our leadership on the digital front. It is a crucial step toward ensuring that all Pakistanis, regardless of location, gender, or socioeconomic status, can harness the transformative power of the internet and digital services.` Zafar Masud, President & CEO of The BoP, stated, `Leading this landmark transaction in the telecom sector exemplifies our strategic focus on digital transformation in Pakistan. Our partnership with Jazz underscores BoP`s dedication to advancing technological progress and supporting the growth of the telecom industry.`•