MIGA covers second Myanmar fibre loan

MIGA has guaranteed a $114.76 million 5.5-year loan from ICBC to Myanmar Fiber Optic Communication Network. The guarantee is supported by $22.95 million from a facility being financed through the International Development Agency (IDA) Private Sector Window.

The loan is part of an ongoing fibre-optic project involving roll-out of 4,000km of cable across six states and eight metropolitan areas in Myanmar. MIGA also backed an earlier phase of the programme in January 2017 - a guarantee for a $105.74 million five-year loan from Bank of China. The first project was completed in October 2017, and the current project is expected to be completed within a year.