Nov 30, 2011

The board of directors of the BNDES approved R$ 1.184 billion in financing for GVT, Global Village Telecom. The funds will be earmarked to complement the company's investment plan for the 2011-2013 period. This plan is aimed at expanding the current areas of operation and for new cities, besides the operation of cable TV services and innovations in fixed telephony and broadband internet, content, and interactivity.

Currently present in 105 cities, the company operates in all regions of Brazil. To monitor the geographic and new business expansion, GVT will double its staff this year, jumping from 7,900 in December 2010 to over 14,200 at the close of this December. The company’s own personnel has direct contact with customers. Besides the call center, formed by internal staff since it was implemented, GVT will have installers that activate services at clients’ homes.

Among the merits of the operation supported by the BNDES, there is increased competition in the sector of broadband and fixed telephony where GVT operates, with benefits from this initiative, such as more attractive prices and new services for consumers. The Bank will also fund investments in national technology, ensuring that a part of the total amount of credit received by the company for the purchase of domestic equipment is directed at suppliers that invest in innovation in Brazil.

Social investments - Resources earmarked for the company’s four social projects that will be expanded in the 2011-2013 period are part of the BNDES’ financing. They are: the ‘Returns’, which aims to train people with special needs; the ‘Capable’, which promotes training for young people to work as a call center employees; the ‘Responsible Use of the Internet’ project, which works at raising awareness of children, parents, and teachers on the best use of technology and the Internet; and ‘Volunteers’, which provides support for efforts made in partner institutions, such as the Pequeno Príncipe Children's Hospital Complex.