Telecommunications

Ooredoo Myanmar Limited (the "Company"), has asked IFC to assist in providing US$150 million debt facility to finance the Company`s roll-out in Myanmar (the "Project"). The Company is one of the two foreign owned companies that have been awarded a 15 year telecommunication license to provide mobile telecommunication services by the Posts and Telecommunications Department, Ministry of Communications and Information Technology, Republic of the Union of Myanmar. The telecommunications sector has only recently been freed from state control, with the licensing announced and awarded in mid-2013 and early 2014 respectively. The Project is key to improving the competitive landscape in the mobile communications sector in Myanmar. At the time the license award process commenced 1 in 10 people in Myanmar had a wireless phone. The Company commenced operations during August, 2014 and as at end of December 2014, reached a customer base of more than 2 million.

Myanmar