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Ooredoo Secures $300 million Loan to Expand Mobile Network in Myanmar

9 February 2016
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Ooredoo Secures $300 million Loan to Expand Mobile Network in Myanmar Image Credit: Ooredoo

Ooredoo has secured a USD$150 million loan from Asian Development Bank (ADB) and the International Finance Corporation (IFC) to accelerate the delivery of its network and services to the people of Myanmar. The operator continues its investment in infrastructure to benefit from the opportunity offered by low mobile phone and data usage penetration rates among the 51 million population of Myanmar.

The deal also demonstrates Ooredoo 's long-term commitment to Ooredoo Myanmar, where it has been operating since its license was granted in 2014. Ooredoo said that since its entrance into the market, more than 80% of the population is covered by its 3G network with majority of the Ooredoo customers accessing this network via smart devices. 

Sheikh Saud Bin Nasser Al Thani, Ooredoo Group CEO
Over the last two years,Ooredoo has made significant progress on its strategy to provide the people of Myanmar with a world-class telecommunications network. Our investments in Myanmar continue to support the good revenue and customer growth trends we have recorded in the country. 

Ray is a news editor at The Fast Mode, bringing with him more than 10 years of experience in the wireless industry.

For tips and feedback, email Ray at ray.sharma(at)thefastmode.com, or reach him on LinkedIn @raysharma10, Facebook @1RaySharma

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