The Asian Development Bank (ADB) and the International Finance Corporation—IFC, a member of the World Bank Group—are providing loans of $300 million to Ooredoo Myanmar for the rollout of a mobile telecommunication network across Myanmar, which will help extend affordable telecom services across the country, boosting economic growth and job creation.
ADB and IFC are extending a loan of $150 million each to Ooredoo Myanmar, a fully owned subsidiary of Ooredoo Q.S.C, to expand a nationwide “greenfield” mobile telecom network using advanced 3G technology, according to a statement on 8 February.
“Myanmar has one of the lowest rates of telecom connectivity in Southeast Asia, with poor communities and women the least likely to have access to these increasingly vital services,” said Christopher Thieme, Director of ADB’s Private Sector Operations Department. “This assistance, ADB’s largest private sector investment to date in Myanmar, will help the government meet its target of connecting over 90% of the population, including millions of people for the first time.”
In 2013, only 7 out of every 100 people had access to a mobile phone in Myanmar. Providing affordable, widely available telecom services to support economic growth and cut poverty has been a priority goal of the Government of Myanmar. Since its entrance into the market in 2014, Ooredoo Myanmar has reached millions of customers covering 80% of the population with its 3G network.
“This investment shows our continued support to help extend essential and affordable infrastructure services to Myanmar people,” said Vikram Kumar, IFC Resident Representative for Myanmar. “In addition to providing thousands of direct and indirect jobs to local workers, Ooredoo Myanmar’s nationwide telecom network will help connect people and ease economic activities by applying advanced telecommunication technologies.”
The network rollout will be carried through to 2019. With the physical infrastructure, Ooredoo Myanmar plans to develop mobile applications for banking, agriculture, and maternal health, which will improve access to services particularly for low-income groups and women.