Singapore-listed Yoma Strategic Holdings has secured a loan of up to US$100m from the Asian Development Bank (ADB) for infrastructure projects aimed at increasing Myanmar’s connectivity.
The debt will be released in two tranches, with the first used…
Singapore-listed Yoma Strategic Holdings has secured a loan of up to US$100m from the Asian Development Bank (ADB) for infrastructure projects aimed at increasing Myanmar’s connectivity.
The debt will be released in two tranches, with the first used to build telecoms towers, develop cold storage logistics, and modernise vehicle fleet leasing.
Yoma said the second tranche will fund sub-projects in transportation, distribution, logistics and other sectors.
“ADB’s loan will help support our goal of improving the country’s connectivity, which in turn will strengthen local markets, boost productivity, and create jobs,” said Yoma executive chairman Serge Pun, who owns about 37% of its shares.
The company was one of the bidders that failed to get a mobile licence in Myanmar’s first competitive 3G auction last year, with Norway’s Telenor and Qatar-based Ooredoo emerging as the winners.
The Singaporean group said it will look for partners to work with it on individual infrastructure sub-projects.
ADB is based in Manila, and was set up in 1966 to help reduce poverty in Asia and the Pacific through inclusive economic growth, environmentally sustainable growth, and regional integration.
