Macedonian communication service provider Neotel will expand their fiber optic infrastructure to provide high speed high bandwidth services to its subscribers in the country. Neotel will receive a financial help of 2 million euros from European Bank for Reconstruction and Development (EBRD) to support the network infrastructure development.
The fund offered by EBRD will help Neotel to extend its reach to more areas with fiber optic cable networks. Fiber optic networks are necessary to deliver high bandwidth services that are proved to help economy by creating jobs directly and indirectly. Also fiber optic infrastructure developments and subsequent broadband services would contribute to the country’s GDP. For a country like Macedonia, development of next generation networks is key to the overall development. The funds will also help to strengthen Neotel’s position by reducing operational costs, extending the fiber optic network ring and improving customer experience. Strong and better broadband services will allow growth of the number of the Macedonian internet subscribers.
Macedonian internet penetration is almost half of the European average at 27.7 per cent according to EBRD. The funds are intended help reduce the digital divide that exists between Macedonia and rest of Europe.
Based in Skopje, Neotel is one of the leading communication company Macedonia. Neotel started as Internet Service Provider in 2004. Today Neotel’s activities have spread throughout various fields concerning telecommunication, Fix Voice operation, computer networks, web and mail hosting, security and privacy in the Internet world, audio and video streaming. We are particularly proud with the flexibility of our services and the adaptability on each costumer individually, through creative solutions that our professional team of engineers can offer. Neotel works with professional optical and wireless network in Skopje and The Republic of Macedonia.
Neotel’s expansion of fiber optic networks are expected to contribute to the regional integration of broadband services across the Western Balkans. The financial assistance from EBRD for this project comes through its Local Enterprise Facility (LEF). LEF combines finance and technical assistance, focused on strengthening the private sector by providing long-term financing for small and medium-sized enterprises in the Balkans, Turkey and the southern and eastern Mediterranean region.
The financial and technical program will help Neotel to strengthen its position and increase the competitiveness in the telecoms market. It will also give the company the opportunity to develop and provide to our customers easier solutions and better network access, especially in the southern and western parts of the country. Development of the information and communication sector has to be given priority in Macedonia.
EBRD had invested in the past too in Macedonia in developing infrastructure projects. EBRD began investing in the Macedonian economy in 1993. EBRD has signed more than 90 projects with a net cumulative business volume of more than 1.5 billion euros in Macedonia.