Irrawaddy Green Towers

Debt : December 2015

BIO has granted a USD 12 M loan to Irrawaddy Green Towers to build mobile communications infrastructure across Myanmar.

Amount

€ 11,179,644.00

Type of investment

Debt

Development impacts

  • Local economic growth
  • Private sector consolidation/innovation
  • Access to basic services & goods

Beneficiary locations

Asia: Myanmar

Investment field

Infrastructure

Activity

Telecom - Cell phone network

Organisation

Irrawaddy Green Towers

Domicile

Myanmar

BIO has granted a USD 12 M loan to Irrawaddy Green Towers (IGT) to build mobile communications infrastructure across Myanmar.

IGT builds and leases telecom tower to mobile phone operators. They use the towers to place their cellphone relays, which in turn increases mobile phone coverage in the country.

IGT is operated by Irrawaddy Towers Asset Holding Pte. Ltd (ITAH) in Singapore. ITAH/IGT is owned by Alcazar Capital Ltd. in Dubai and M1 Group from Lebanon. Alcazar Capital Ltd. is a private equity house and advisory firm with a focus among others on telecom infrastructure. M1 Group is an investment holding with international interests in telecommunications, real estate, aviation, fashion, retail, energy and financial asset management.

Development impacts

  • Local economic growth

    Employment effects
    292 staff
    20-25 workers per site; 200 sites per month

    Improved infrastructure for SMEs
    Access to affordable mobile telecommunication

  • Private sector consolidation/innovation

    Know-how and technology transfer
    Ambitious training objective to replace expats by local staff
    Management transferred from SREI (India)with tower company know-how

    Market structuring effects
    Significant expansion of mobile telecom roll-out
    While large cities have been connected, telecom towers are essential to serving rural areas where 70% of the population are living.
    The population has access to mobile telecom at 3% of the costs charged by the current state-owned monopoly

  • Access to basic services & goods

    Market structuring effects
    Significant expansion of mobile telecom roll-out
    While large cities have been connected, telecom towers are essential to serving rural areas where 70% of the population are living.
    The population has access to mobile telecom at 3% of the costs charged by the current state-owned monopoly.

View more of our investments in this region

Mutual trust bank

Financial Institutions

Mutual trust bank

15,000,000.00

  Bangladesh

  27/05/2024

  Debt

EVN Finance Joint Stock Company

Financial Institutions

EVN Finance Joint Stock Company

10,000,000.00

  Vietnam

  09/01/2024

  Debt

MAA General Assurance Phils Incl

Financial Institutions

MAA General Assurance Phils Incl

10,000,000.00

  Philippines

  15/11/2023

  Equity

Alterfin

Investment Companies & Funds

Alterfin

5,000,000.00

  23/10/2023

  Debt

Alterfin

Investment Companies & Funds

Alterfin

 21,500.00

  11/07/2023

  Subsidy

Omnivore Agritech & Climate Sustainability Fund III

Investment Companies & Funds

Omnivore Agritech & Climate Sustainability Fund III

3,500,000.00

  India

  01/07/2023

  Equity

South Asia Growth Fund III

Investment Companies & Funds

South Asia Growth Fund III

10,000,000.00

  India, Indonesia, Philippines, Vietnam

  30/06/2023

  Equity

AMK Microfinance

Financial Institutions

AMK Microfinance

15,000,000.00

  Cambodia

  25/05/2023

  Debt

SUSI Asia Energy Transition Fund

Investment Companies & Funds

SUSI Asia Energy Transition Fund

7,000,000.00

  Cambodia, Indonesia, Philippines, Vietnam

  25/05/2023

  Equity