The US government’s development finance agency said last week it was making its first investment in Myanmar, with a US$250 million loan to a telecoms company, Reuters reported.
The Overseas Private Investment Corporation will lend the money to Yangon-based Apollo Towers Myanmar Ltd, that builds and maintains telecommunications towers, the report said.
“OPIC is pleased to be working with Apollo on this first, important investment in Burma,” Ms Elizabeth Littlefield, OPIC president and chief executive, said in a June 15 statement.
"Telecommunications are a critical part of ongoing development across the world, and through this project, OPIC is looking to have a significant impact on those who previously lacked access to telecommunications coverage in the country,” she said. (Courtesy of frontiermyanmar.net)
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