It’s not enough to build towers. The last mile has to be complemented by the middle mile and the first mile (though that seems a strained metaphor for international cables).
The Multilateral Investment Guarantee Agency had backed the $105.74 million loan from the Bank of China (Hong Kong) to the Myanmar Fiber Optic Communication Network, MIGA said in a statement on January 25.
The guarantee provides coverage for up to five years against such risks as currency inconvertibility and transfer restrictions, expropriation, and war and civil disturbance, MIGA said.
The rollout will link 66 cities and towns in 10 states and regions in central and southern Myanmar and significantly improve communications in rural areas, it said.
“By extending telecom services to underserved areas in Myanmar, this will help take the country’s development to the next level,” Mr Lin Jingzhen, deputy chief executive of Bank of China (Hong Kong), was quoted as saying.
The project is part of a broader plan to install 32,000km of cable between 2012 and 2023, more than half of which had been completed, the statement said.