Mobile TeleSystems PJSC together with the New Development Bank (NDB) set up by the BRICS group of countries, announced the signing of a $300 million credit agreement (“the Agreement”) for digital infrastructure development. The MTS initiative is the first project of its kind to be funded by the NDB. The Agreement provides for a credit line to be extended to MTS for 7 years that can be drawn down in either U.S. dollars, euros, or Chinese yuan. MTS intends to use the raised funds in further developing the company’s digital infrastructure, in particular including by expanding mobile network coverage in rural areas as well as investing in cloud computing capabilities.