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ADB Invest $25m For Connectivity Boost In PNG

TechInPacific – The Asian Development Bank (ADB) has invested $25m in Fiji’s Amalgamated Telecom Holdings (ATH) subsidiary, ATH International Venture Pte. Limited (ATHIV) for the development of the Greenfield 4G network in PNG.

According to Infrastructure Finance Division Director for Southeast Asia, East Asia, and the Pacific at ADB’s Private Sector Operations Department Jackie B. Surtani, the investment is their continuous effort to deliver essential and affordable infrastructure services to PNG natives.

“Improved mobile services in PNG will increase domestic and regional connectivity and serve as a powerful access tool for other sectors of the economy such as telemedicine, education, and banking,” he adds.

The Greenfield network will boost connectivity in the rural communities, making digital services in finance, public health, and education one-step access and to widen the 11 percent gap of the current population with access to the net.

The presence of the latest network is expected to grow the private sector in telecommunications, as well as opening up economic opportunities in general.

“We are pleased to welcome ADB as a cornerstone investor and key partner in our PNG venture,” ATH Chief Executive Officer Ivan Fong said.

Photo by Mika Baumeister on Unsplash

“The investment from ADB is a great endorsement for the project and its sponsors, and we look forward to working with ADB to deliver superior technology and services to our customers in PNG, especially those living in remote and low-income parts of the country.”

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