The local unit of Tiger Infrastructure secured a $40 million loan from the Asia Development Bank (ADB) to construct 380 towers in the south of the Philippines, supporting the country’s push for building and sharing infrastructure.
In a statement, ADB Private Sector Operations Department director general Suzanne Gaboury noted the project will improve access to the digital economy in the underserved regions of Visayas and Mindanao, and have a tangible impact on the quality of life for local communities.
Tiger Infrastructure group executive chair Simon Skouboe said it is confident it can strengthen its “digital infrastructure portfolio as we continue to respond to demand for reliable mobile network connectivity in Asia”.
The company will handle construction, renting land, operation and maintenance of the network, while operators leasing tower space will own the equipment installed.
ADB noted the Philippines has 164 towers per 1 million people, about 27,000 towers as of end-2021, one of the lowest coverage rates in Asia Pacific.
The government estimates an additional 60,000 towers are required by 2031 in unserved and underserved areas.
Tiger Infrastructure is jointly owned by Cell Tower Services and Daily Life Renewable Energy, both based in Singapore.