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Airtel Africa signs credit pact with American banking major Citi

Published on August 10, 2022
Current Context: Airtel Africa signs a credit pact of USD 125 million with Citi Bank.
Airtel Africa signs credit pact with American banking major Citi
  • This facility will be used to support Airtel Africa's operations and investments in four of its subsidiaries and it has a tenor up to September 2024.
  • Airtel Africa has telecom and mobile money operations in 14 African countries. The facility involves borrowing both local currencies and the US dollar.
  • The deal was executed by its Indian unit where Airtel Africa's parent company Bharti Airtel is headquartered. The credit will be extended through its branch office or subsidiaries in sub-Saharan Africa.
  • Citi Banks' sustainability-linked loan with Airtel Africa is to expand digital inclusion and gender diversity. This is Citi India's first performance-indicator-based deal in the area of telecommunications.

Question: 

Q.1 Airtel Africa signed a credit pact worth _____with Citi bank.
a. USD 100 million
b. USD 120 million
c. USD 125 million
d. USD 130 million
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