Turkcell has secured a $1 billion loan facility to fund its 5G rollout in Türkiye (aka Turkey).

The carrier said it has struck a financing deal with 14 international banks, led by HSBC Bank Middle East Limited.

The loan has a maturity of seven years, which includes a two-year grace period for principal repayment.

Founded in 1994, Turkcell has around 39 million mobile subscribers and is Türkiye's largest mobile operator.

Abdulkadir Uraloğlu, the Turkish minister of transport and infrastructure, has called the upcoming launch a "new turning point in Türkiye’s mobile communication history.”

“On March 31, Türkiye's transition to 5G will be officially announced. As of April 1, 5G services will gradually begin across all 81 provinces,” said Uraloğlu. “Our goal is to expand 5G coverage to every corner of the country within two years. This technology will significantly increase communication speeds and open new opportunities in multiple sectors.”

It comes as Türkiye prepares to launch nationwide 5G services from April 1, 2026. The country's main telco operators, including Turkcell, Vodafone, and Türk Telekom, secured new bandwidth during the country's 5G spectrum auction last year.

Although 5G was first launched commercially in some markets in 2019, other markets haven't been as fast with the take-up of the technology. India only launched the service in October 2022, while other countries, including Ukraine and Russia, have yet to launch the service.

Regulatory hurdles and inflation have led to the delay of 5G in Turkey, while the government has also been keen to develop its own 5G hardware and software. Turkey was late to roll out 4G, only launching the service in April 2016.