Active Commercial AidData Chinese Aid

Bank of China provides $65 million loan to HyalRoute Communication Group to support its Southeast Asia infrastructure operations

$65M USD

Funder	Bank of China (BOC)
Recipient Organization	HyalRoute Communication Group Limited
Country	Asia, regional
Start Date	Jun 04, 2020
End Date	Dec 30, 2027
Duration	2,765 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`109952`

Grant Description

Bank of China provides $65 million loan to HyalRoute Communication Group to support its Southeast Asia infrastructure operations On June 4, 2020, Bank of China provided a $65 million corporate loan to HyalRoute Communication Group to support its Southeast Asia infrastructure operations.

The loan proceeds were intended for general corporate purposes, with a repayment guarantee provided by HyalRoute's Philippine subsidiary, Philippine Fiber Optic Cable Network Ltd. (PFOCN). PFOCN is responsible for building and managing a national fiber-optic backbone across the Philippines.

📋 Staff Comments

1. HyalRoute Communication Group Limited is a Singapore-based company that is owned by HyalRoute Group, a Shenzhen-headquartered telecom infrastructure company. Philippine Fiber Optic Cable Network Ltd. (PFOCN or 律宾光纤通信网络有限公司) is a subsidiary of HyalRoute Communication Group Limited.

📚 Sources & References

Philippines Fiber Optic Additional Facility 2020 (2)
HyalRoute Group to invest $1-2 billion in PHL venture
HyalRoute Communication Group Limited Loan applications and disbursements are still being received and processed as the projects continue to evolve. Ongoing monitoring and evaluation are in place to ensure project continuity.