ADB Loans $40 Million for 380 Telco Towers in Visayas and Mindanao

The Asian Development Bank’s Private Sector Operations Department (PSOD) mentioned that the loan was given to Tiger Infrastructure Philippines Inc., which plans to construct 380 telecommunications towers in the Visayas and Mindanao regions.

This funding would constitute $25 million from the ordinary capital resources of ADB and $15 million loan from the “Leading Asia’s Private (Leap) Infrastructure Fund”.

ADB PSOD Director General Suzanne Gaboury mentioned that “Digital connectivity’s impact in helping to achieve Sustainable Development Goals cannot be understated, especially in areas like education, health care, financing, and payments,”

She likewise mentioned that “This project will improve access to the digital economy in the underserved regions of Visayas and Mindanao and have a tangible impact on the quality of life for local communities,”

Tiger Infrastructure would be in charge of maintenance, operation, land leasing, and construction. Telecommunication equipment placed on towers will be the property of the tenants.

Currently, the Philippines only has 164 telecommunication towers per one million people. This translates to an estimated 27,000 telco towers as of 2021, which is considered one of the lowest coverage rates in the region. The government approximates that an additional 60,000 towers would be needed in underserved and unserved regions by 2031.

“We are honored to receive this support and endorsement from ADB. Together, we share a vision of supporting Philippines’ development through mobile network connectivity and digital transformation,” stated Simon Skouboe, Tiger Infrastructure Group Executive Chairman.

“We are confident that by working with ADB, Tiger can strengthen our digital infrastructure portfolio as we continue to respond to demand for reliable mobile network connectivity in Asia,”

Source: Business Mirror