The Asian Development Bank (ADB) has signed a PHP2.4 billion loan agreement with iSON Tower Limited Incorporation to finance the construction, development, and operation of 800 shared telecommunication towers to help expand digital connectivity in the Philippines. This is part of a broader PHP4.8 billion co-financing package by ADB to help expand digital connectivity across the country.
ADB and Philippines-based Security Bank Corporation will each provide PHP2.4 billion toward a financing package for 12 years. The loans will be structured by ADB.