ADB, Tiger Infrastructure Sign $40 Million Loan to Support Rural Connectivity in Southern Philippines – EQ Mag
MANILA, PHILIPPINES : The Asian Development Bank (ADB) signed a $40 million loan with Tiger Infrastructure Philippines, Inc. (Tiger Infrastructure) to build 380 telecommunications towers in the Mindanao and Visayas regions of the Philippines. This infrastructure will enable mobile network operators to provide a full range of mobile and data services to consumers.
The financing comprises $25 million from ADB’s ordinary capital resources and a $15 million loan from the Leading Asia’s Private Infrastructure Fund administered by ADB.
Telecommunication towers support one or more wireless telecommunication antennae. The project will support common tower sharing, which will allow multiple mobile network operators to lease the same location while Tiger Infrastructure will be responsible for construction, land leasing, operation, and maintenance. All telecommunication equipment installed on the towers will belong to the tenants.
“Digital connectivity’s impact in helping to achieve Sustainable Development Goals cannot be understated, especially in areas like education, health care, financing, and payments,” said ADB’s Private Sector Operations Department Director General Suzanne Gaboury. “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.”
The Philippines has only 164 towers per 1 million people or about 27,000 telecom towers as of 2021, one of the lowest coverage rates in the region. The Government of the Philippines estimates that an additional 60,000 towers are needed by 2031 in unserved and underserved areas.
“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,” said Tiger Infrastructure Group Executive Chairman Simon Skouboe. “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.”
Tiger Infrastructure is jointly owned by Cell Tower Services Pte. Ltd (CTSP) and Daily Life Renewable Energy Pte. Ltd (DLRE), both incorporated in Singapore. CTSP is well established in the telecommunications towers business with projects around the world, while DLRE is involved in customized design, engineering, procurement, construction, installation, and commissioning services for renewable energy systems across Asia and the Pacific.
LEAP is an ADB-managed fund capitalized with a $1.5 billion commitment by the Japan International Cooperation Agency. Established in 2016, LEAP is focused on the delivery of high-quality and sustainable private sector infrastructure projects that reduce carbon emissions, improve energy efficiency, and offer accessible and affordable health care, education, and communication services to ADB’s developing members.
ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. Established in 1966, it is owned by 68 members—49 from the region.
Source: adb
