• Myanmar
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • Netherlands Development Finance Company (FMO)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Bank Risk Rating
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Dec 15, 2015
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Irrawaddy Tower Asset Holding Ltd. / Irrawaddy Green Towers Ltd. (ITAH/IGT)
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
  • Communications
  • Construction
The service or industry focus of the investment. A project can have several sectors.
Investment Amount (USD)
$ 13.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Project Cost (USD)
$ 13.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Primary Source

Original disclosure @ FMO website

Updated in EWS Sep 16, 2019

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

FMO has arranged an additional financial package of USD 69.7million from European Development Finance Institutions for Irrawaddy Tower Asset Holding Ltd. / Irrawaddy Green Towers Ltd. (ITAH/IGT) to build additional mobile communications infrastructure across Myanmar. In 2015 FMO arranged a package of USD 122 million. ITAH is the holding company in Singapore of the operating company IGT in Myanmar. ITAH/IGT is owned by Alcazar Capital Ltd. in Dubai and M1 Group from Lebanon. Alcazar Capital Ltd. is a private equity house and advisory firm with a focus among others on telecom infrastructure. M1 Group is an investment holding with international interests in telecommunications, real estate, aviation, fashion, retail, energy and financial asset management.

The funding objective is to finance the construction, erection and operation of 3,000 - 4,000 telecom towers which are mainly located in rural areas. The towers are contracted by the major telecom providers in Myanmar, Telenor, Ooreedoo and MPT. To that regard ITAH/IGT has signed long term lease agreements. ITAH/IGT will also provide for power management services.

Currently only a limited number of the approximately 51 million inhabitants of Myanmar have access to mobile telecommunication services. The country's objective is to substantially increase this share. In Myanmar ITAH/IGT will build a mobile telecommunication tower network thus providing coverage to approximately 15 - 20 million people. The telecom infrastructure will unlock rural areas and by doing so will provide a significant stimulus for economic development by improving access to telecommunications. Since its foundation, ITAH/IGT has created 300 direct jobs. Another 1,000 indirect jobs will be created in relation to the erection and operation of the towers. The company offers a comprehensive range of training and qualification programs for its staff and, in doing so, provides an important contribution to the transfer of technical and economic know-how.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.


Communities who believe they will be negatively affected by a project funded by the Dutch Development Bank (FMO) may be able to file a complaint with the Independent Complaints Mechanism, which is the joint independent accountability mechanism of the Dutch Development Bank (FMO) and the German Investment Corporation (KfW) . A complaint can be filed in writing, by email, post, or online. The complaint can be filed in English or any other language of the complainant. The Independent Complaints Mechanism is comprised of a three-member Independent Expert Panel and it can provide either problem-solving, compliance review or both, in either order. Additional information about this accountability mechanism, including a guide and template for filing a complaint, can be found at:

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