Reliance Communications (RCOM) has received $150 million from a trade finance and promotion agency, Export Development Canada (EDC), to buy technology and equipment from Canadian suppliers for the launch of GSM services. The financing is a combination of loans and lines of credit, with longer repayment tenors. The funding is in addition to the $250 million provided by EDC to the Anil Ambani-promoted company earlier this year. The firm is expected to roll out GSM services by the end of 2008-09.
