100% guarantee provided for $70m to Cellcard to issue a sustainability-linked bond in Cambodia (LDC). Proceeds will be used to add 500 4G telecom towers and upgrade 50 towers to 5G. This will improve access to mobile voice and internet services for 1.3m customers improving quality of life and enabling economic growth through enhanced productivity.
SDG 9.C + 8.5 – Increase affordable access to the internet, supporting economic growth and job creation.
Expected impact: 1.3m end users are expected to benefit from improved access to mobile and internet services. This will improve quality life and enable economic growth and indirect job creation.
Challenge: Despite high mobile phone penetration, the quality and speed of mobile broadband is lagging behind regional peers.
Channel: Improve quality of service for end users and become the first 5G provider.
Outcome: Increase competition within the market to improve network coverage.
Mobilised $70m of private sector investment.
Transition risk: Cellcard intend to add solar PV where feasible to reduce greenhouse gases (GHG) emissions. Some site locations may still require diesel back-up due to grid intermittency and site location.
Resilience: A climate risk assessment was conducted and found some sites were at risk of flooding. As a result, new sites will be screened, and climate risks mitigated.
In 2023, 20% of Cellcard’s management, and 30% of its workforce were women. Cellcard has committed to further develop their polices to enhance female employment (governance and workforce). Cellcard rolled out a company-wide survey in January to identify challenges faced by female employees and relevant actions. The results will allow Cellcard to identify which policies they would like to develop, how and when.
As part of the due diligence process, 22 HSES improvements were identified which are now reflected in the Project Environmental and Social Action Plan (ESAP).
