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PRIDE Network Receives Approval for Funding of Projects Under the Broadband Initiative Program of the American Recovery and Reinvestment Act


XFONE, Inc. (NYSE Amex and TASE: XFN) ("XFONE" or "the Company") announced that its wholly owned subsidiary, PRIDE Network, Inc.'s applications for USDA (United States Department of Agriculture) RUS (Rural Utility Service) funding under the Broadband Initiative Program (BIP) for the Fiber To The Premise (FTTP) build out of the Company's PRIDE Network in Texas, have been approved.

The Company's Texas South Plains Project was selected to receive a $22,720,551 loan and a $21,829,549 grant. The funding will provide an FTTP telecommunications infrastructure, with a WiMAX service-extension overlay that will bring advanced broadband services to rural communities of the Texas South Plains region. The Burkburnett and Iowa Park Project was selected to receive a $12,811,071 loan and a $6,309,931 grant. The funding will provide an FTTP telecommunications infrastructure, with a WiMAX service-extension overlay, that will bring advanced broadband services to the rural communities of Burkburnett and Iowa Park (less than five percent of this network will serve an area in Oklahoma).

Keywords: Agricultural, Agriculture, Audio and Video, Broadband, Communications, Consumer Electronics, Electronics, Finance, Internet, Mobile and Wireless, Networks, Other Communications, Other Technology, Professional Services, Technology, Telecommunications, USDA, XFONE Inc.
 
This article was prepared by Telecommunications Weekly editors from staff and other reports

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