Qatar telecom firm Ooredoo has secured loans worth $ 300 million from the Asian Development Bank (ADB) and the International Finance Corporation (IFC) to expand the mobile communications network across Myanmar.
He said the Asian Development Bank and International Finance Corporation, the private World Bank’s financing arm they extend a loan of 150 million $ for each of the service provider of mobile phone, which is a wholly owned subsidiary of Ooredoo in Qatar, a subsidiary QSC’s Mobile expand “green fields” national telecommunications network with 3G technology advanced.
Ooredoo said Myanmar is propagated through a network of 2019 with the actual infrastructure that plans to develop mobile applications for banking services, agriculture, and health of the mother.
“Myanmar has one of the lowest rates of telecommunications connectivity in Southeast Asia, with poor communities and women less fortunate in getting these vital services are increasingly,” said by Christopher THIEME, Director of ADB private sector operations.
“This assistance, the largest private sector investment in the bank’s history in Myanmar, the government will help achieve its goal of connecting more than 90 percent of the population, including millions of people for the first time.”
ADB also implement the technical assistance project – funded by a grant of up to $ 1000000 from the Canadian climate for the private sector fund in Asia – to study the feasibility of using renewable energy to run power transmission telecommunication towers. Test the use of renewable energy at the specific request of the spread from 1500 through at least towers rural locations, and the reduction of about 10,000 tons of CO2 emissions are expected each year.
In 2013, it was only seven out of 100 people have access to a mobile phone in Myanmar. Allowed civil semi, then the government’s liberalization of trade mentioned above, two foreign companies to enter the market. Since entering 2014, Qtel has reached nearly five million subsribers while covering 80 percent of the population with 3G network.
Said Vikram Kumar, IFC Resident Representative of Myanmar “, in addition to providing thousands of direct and indirect local workers jobs, and a network of telecommunications at the national level, Ooredoo Myanmar help connect people and facilitate economic activity through the application of advanced communications technology.”
Far behind Qtel has in terms of the number of subscribers compared with its competitors, and the Telenor and MPT rumors about a possible departure. However, in an interview with Reuters last month, CEO Rene Meza Qtel Myanmar exclude any such action.
After the new financing agreement, Ooredoo said in a statement: “The agreement also demonstrates the long term commitment of the Ooredoo Myanmar, which has been operating since the license was granted in 2014 and highlights the Qtel’s investment in Myanmar.”
Said Sheikh Saud bin Nasser Al Thani, Chief Executive Officer of the Qtel Group, “Our investment in Myanmar continue to support the trends are good income and growth of clients have been registered in the country. We have a wide range of telecommunications services to support the socio-economic development in the country through improved communication between company institutions and individuals. ”
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