Project detail - GRAMEENPHONE LTD.


Status: Completed investment
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The information as disclosed is indicative and provided on an "as-is/as available" basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of FMO in its sole and absolute discretion. When providing links to other sites, FMO bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. The information on proposed investment for high-risk investments is made available in the language relevant to the country or region where the bulk of operations take place. Translations of any information into languages other than English are intended as a convenience for local stakeholders. In case of any discrepancy, the information provided in English will prevail.

Who is our customer

Grameenphone Ltd (“GP”) is the largest mobile phone operator in Bangladesh, with 40 million subscribers and a subscription market share of 41%. GP launched operations in 1997 and is a publicly listed company: 55.8% owned by Norwegian Telenor Mobile Communications AS, 34.2% by Grameen Telecom, a non-profit institution focusing on the rural population of Bangladesh, and the remaining 10% shares traded on the Dhaka and Chittagong Stock Exchanges.

What is our funding objective?

Given a large population of more than 160 million, steady economic growth, a low mobile penetration rate and increased data usage, the Bangladeshi mobile market is poised for continued strong growth. The USD 1.2 billion project involves the payment of 2G/3G license renewal and investments related to network and capacity expansion and the introduction of 3G to the market, resulting in improved connectivity, coverage and additional services. The project is largely funded by internal cash generation with additional financing from term loans from international development finance institutions and local banks.

Why do we fund this investment?

The project has high development impact as it helps to increase access to telecommunication and data services - especially in rural areas - promote energy efficiency and raise additional revenues for the Government of Bangladesh (GP is the largest tax payer in the country).

Infrastructure, Manufacturing and Services
Effective date
End date
Total FMO financing
USD 40.00 MLN
Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk Environmental & Social Category
(A, B+, B or C)