OeEB contributes USD 15 million to FMO's USD 160 million financing to Irrawaddy Green Towers Ltd. The funds will be used for installing and operating 3,600 mobile telecommunication towers in Myanmar.
Myanmar is one of the poorest countries in the world with one of the lowest mobile penetration rates. Developing the mobile and communications technology is considered substantial for the country's economic development.
On the one hand, the access to and exchange of information as well as the use of mobile services such as mobile banking will be made possible. On the other hand, jobs will be created.