To expand access to quality and affordable connectivity and digital financial services in Mali, especially in rural areas, IFC announced a partnership with Orange Mali SA to support the company to upgrade its infrastructure, expand broadband coverage, and ensure equal access to telecoms services for all communities.
An 80 million loan equal to about XOF 52.5 billion from IFC and other investors will enable Orange Mali to install 300 new 4G towers and expand its fiber network to reach an estimated 300,000 households and smaller businesses in Mali. Half of the towers will be built in rural areas, increasing access to fast, affordable internet for education, business, and financial services.
The financing package includes 50 million equivalent in XOF from IFCs own account and up to 30 million IFC has mobilized from the West African Development Bank BOAD. IFCs investment is supported by the World Bank Groups International Development Association IDA Private Sector Window, which provides longer-term financing in local currency that is not readily available in the market.
