In December 2015, OeEB contributed USD 15 million to FMO's USD 160 million financing to Irrawaddy Green Towers Ltd. The funds will be used for installing and operating 3,300 mobile telecommunication towers in Myanmar.

Project name Irrawaddy Green Towers
Region Southern and Eastern Asia
Sector Energy / Resource efficiency / Infrastructure
Service Investment Finance
Project country Myanmar
OeEB project volume USD 15 million
Projekt partner(s) Irrawaddy Green Towers Ltd.

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.

Private operators such as Irrawaddy Green Towers (IGT) play an important role in developing the necessary infrastructure for a countrywide mobile network. With the help of a long-term loan provided by OeEB and other development finance institutions such as IFC, FMO, DEG, CDC, Proparco and BIO, IGT set up a network of around 3,300 mobile phone towers in Myanmar, providing coverage to millions of people.

Since 2014, Myanmar's mobile penetration rate has risen from 14% to 116%. Andreas Handler, Senior Manager Portfolio Management, explains how this fast development was made possible.