Active Mixed AidData Chinese Aid

ICBC provides $30 million loan for Myanmar Communication Infrastructure Construction Project

$30M USD

Funder	Industrial and Commercial Bank of China (ICBC)
Recipient Organization	Myanmar Fiber Optic Communication Network Co., Ltd. (MFOCN)
Country	Myanmar
Start Date	Jan 01, 2012
End Date	Jan 08, 2029
Duration	6,217 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`85730`

Grant Description

ICBC provides $30 million loan for Myanmar Communication Infrastructure Construction Project On or around 2012, the Yangon Branch of the Industrial and Commercial Bank of China (ICBC) and Myanmar Fiber Optic Communication Network Co., Ltd. (MFOCN or 缅甸光纤通信网络有限公司) — a project company and subsidiary of HyalRoute Communication Group Ltd. (HyalRoute) — signed a $30 million loan agreement for the Myanmar Communication Infrastructure Construction Project.

📋 Loan / Grant Terms

💰 Loan Amountare unknown

MFOCN pledged fiber optic network assets (worth $40 million) as sources of collateral.

The purpose of the Myanmar Communications Infrastructure Construction Project is to install a 62,000 km national fiber optic cable (FOC) network and 1,000 telecom towers over 3 phases. As of March 2018, MFOCN had completed a total of 23,218 km of FOC. As of March 31, 2019, $30,000,000 of the loan was outstanding.

This project is also known as the HyalRoute Fiber Optic Cable Network Project.

📋 Staff Comments

It is unclear which phase of the Myanmar Communication Infrastructure Construction Project was supported by this $30 million ICBC loan. This issue requires further investigation.
It is unclear when the ICBC loan was issued. For the time being, AidData assumes a loan commitment year of 2012 because Myanmar Fiber Optic Communication Network Co., Ltd (MFOCN) — the special purpose vehicle responsible for the Myanmar Communication Infrastructure Construction Project — was established on May 22, 2012. This issue requires further investigation.
HyalRoute Communication Group Limited is a Singapore-based company that is owned by HyalRoute Group, a Shenzhen-headquartered telecom infrastructure company.

📚 Sources & References

光启技术：关于对深圳证券交易所关注函回复的公告
光启技术股份有限公司关于对深圳证券交易所关注函回复的公告 Loan applications and disbursements are still being received and processed as the projects continue to evolve. Ongoing monitoring and evaluation are in place to ensure project continuity.