iSON Digital Connectivity Enhancement

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"The project comprises an expansion and enhancing of the digital connectivity infrastructure for the underserved communities in the Philippines with the construction, development, and operation of 800 shared telecommunication towers. They will be distributed across the remote areas of Mindanao island, Southrn Philippines. The sponsor is iSON Tower Limited Inc., part of iSON Group. The project has been co-funded by the Asian Development Bank (ADB) and Security Bank Corporation, a leading Philippine bank, each providing $42.78m or Php2.4 billion toward the financing package on a 12-year tenor, with ADB structuring the loans (a total of $85.56m). ADB and iSON Tower Limited Inc. have signed the loan agreement on March 4th, 2024. The project financing is structured to mitigate risks related to greenfield financing of telecommunications towers in the Philippines. The country’s two dominant telecommunication service providers, Globe Telecom, Inc. and Smart Communications, Inc., both have lease agreements with iSON." https://www.adb.org/news/adb-ison-sign-deal-enhance-digital-connectivity-philippines https://www.adb.org/news/adb-ison-sign-deal-enhance-digital-connectivity-philippines