NextBillion - An Initiative of the William Davidson Institute at the University of Michigan

Thursday, August 29, 2013

Grameenphone is set to receive $345 million funds from the International Finance Corporation (IFC), the private sector arm of the World Bank Group, to expand its coverage in rural areas.

“Improved access to mobile telephony and data services is critical for economic growth and poverty reduction. Bangladesh’s teledensity remains low by global standards,” IFC said in a statement on its website.

“Experience from rural Bangladesh shows that livelihood opportunities improve as a result of information and transactions facilitated through mobile phones,” said Kyle F Kelhofer, IFC country manager for Bangladesh.

Said to be one of the largest private sector financing packages in Bangladesh, it is touted to increase access to telecom services for both voice and data, help smaller businesses create employment and support both public and private sectors to better deliver education, health and other basic services using mobile technology.