{"PSW_Id":115,"Project_Id":14651,"Total_Project_Cost":"80,000,000.00","IFC_OA_Commitment":"To be updated at commitment","Commercial_CoFinancing_Commitment":"To be updated at commitment","DFI_CoFinancing_Commitment":"To be updated at commitment","PSW_Insert_Date":"2025-08-11T14:58:01.727","PSW_Update_Date":"2026-10-16T13:34:56.280","PSW_Inserted_By":"Ejura Phoebe Audu","PSW_Updated_By":"Ejura Phoebe Audu","Facilities":[{"PSW_Facility_BoardApprovalAmount_Id":4716,"PSW_Facility_Id":1,"Board_Approval_Amount":"","Is_Checked":false,"Sequence":1,"BoardApproval_Insert_Date":"2026-10-16T17:34:56.907","BoardApproval_Update_Date":"2026-10-16T17:34:56.907","BoardApproval_Inserted_By":"Ejura Phoebe Audu","BoardApproval_Updated_By":"Ejura Phoebe Audu","Facility_Details":{"PSW_Facility_Id":1,"PSW_Facility_Name":"IDA21-PSW BFF","Facility_Insert_Date":"2025-05-09T23:50:38.840","Facility_Update_Date":"2025-05-09T23:50:38.840"}},{"PSW_Facility_BoardApprovalAmount_Id":4717,"PSW_Facility_Id":2,"Board_Approval_Amount":"","Is_Checked":false,"Sequence":2,"BoardApproval_Insert_Date":"2026-10-16T17:34:58.937","BoardApproval_Update_Date":"2026-10-16T17:34:58.937","BoardApproval_Inserted_By":"Ejura Phoebe Audu","BoardApproval_Updated_By":"Ejura Phoebe Audu","Facility_Details":{"PSW_Facility_Id":2,"PSW_Facility_Name":"IDA21-PSW RMF","Facility_Insert_Date":"2025-05-09T23:50:38.840","Facility_Update_Date":"2025-05-09T23:50:38.840"}},{"PSW_Facility_BoardApprovalAmount_Id":4718,"PSW_Facility_Id":3,"Board_Approval_Amount":"65,000,000.00","Is_Checked":true,"Sequence":3,"BoardApproval_Insert_Date":"2026-10-16T17:35:00.780","BoardApproval_Update_Date":"2026-10-16T17:35:00.780","BoardApproval_Inserted_By":"Ejura Phoebe Audu","BoardApproval_Updated_By":"Ejura Phoebe Audu","Facility_Details":{"PSW_Facility_Id":3,"PSW_Facility_Name":"IDA21-PSW LCF","Facility_Insert_Date":"2025-05-09T23:50:38.840","Facility_Update_Date":"2025-05-09T23:50:38.840"}},{"PSW_Facility_BoardApprovalAmount_Id":4719,"PSW_Facility_Id":4,"Board_Approval_Amount":"","Is_Checked":false,"Sequence":4,"BoardApproval_Insert_Date":"2026-10-16T17:35:02.233","BoardApproval_Update_Date":"2026-10-16T17:35:02.233","BoardApproval_Inserted_By":"Ejura Phoebe Audu","BoardApproval_Updated_By":"Ejura Phoebe Audu","Facility_Details":{"PSW_Facility_Id":4,"PSW_Facility_Name":"CCW-IDA21","Facility_Insert_Date":"2025-05-09T23:50:38.840","Facility_Update_Date":"2025-05-09T23:50:38.840"}},{"PSW_Facility_BoardApprovalAmount_Id":4720,"PSW_Facility_Id":5,"Board_Approval_Amount":"","Is_Checked":false,"Sequence":5,"BoardApproval_Insert_Date":"2026-10-16T17:35:03.813","BoardApproval_Update_Date":"2026-10-16T17:35:03.813","BoardApproval_Inserted_By":"Ejura Phoebe Audu","BoardApproval_Updated_By":"Ejura Phoebe Audu","Facility_Details":{"PSW_Facility_Id":5,"PSW_Facility_Name":"None","Facility_Insert_Date":"2025-05-09T23:50:38.840","Facility_Update_Date":"2025-05-09T23:50:38.840"}}]}

The proposed IFC investment is expected to be supported by IDA PSW LCF through cross-currency swaps with IDA (“blended finance co-investment”). Through the IDA PSW LCF solution, IFC will be able to provide long-term local currency financing not otherwise available in the local markets. The funding will enable ATH to strengthen its financial structure and continue investing in network operations and improve access to digital connectivity across challenging low-income/FCS countries. The level of concessionality (i.e., “subsidy”) provided by the blended concessional finance co-investments is estimated to be approximately 20% of the total project cost of US$80 million. This estimate is based on the difference between (i) a “reference swap rate” and (ii) the “concessional swap rate” being received by the IDA PSW LCF. Further details and historical information on estimated subsidy levels in IFC’s blended finance portfolio can be found at: www.ifc.org/blendedfinance. As is the case with all of IFC’s blended concessional finance co-investments, this project has been assessed against the Enhanced Blended Concessional Finance Principles for DFI Private Sector Operations adopted by IFC and more than 20 other DFIs in 2017. Further information on these Enhanced Principles and IFC’s blended finance approach and governance can also be found at: www.ifc.org/blendedfinance.

80.0 million (USD)

Product Line	IFC Investment (million USD)
Risk Management
Guarantee
Loan	80.0
Equity

* These investment figures are indicative

This Project is expected to help increase the uptake of mobile broadband connectivity by individuals and businesses in Papua New Guinea, Kiribati, Samoa and Vanuatu. These results would be achieved by helping the Company improve access to broadband connectivity, including the expansion of 4G+ coverage, the deployment of fiber optic infrastructure as well as the launch of initiatives to enhance the affordability of digital services. Beyond the Company, this project will improve the competitiveness of the mobile broadband sector especially in Papua New Guinea through competition channels. Recognizing the inherent challenges associated with expanding and upgrading networks in PNG due to its geographical characteristics, this transaction is expected to encourage other market participants to broaden their network reach and introduce innovative services using recent technological advancements at more competitive price points.

                     

IFC’s additionality in this Project is both financial and non-financial. Financial additionality involves the ‘Financing structure’ with IFC providing a loan in local currency to support mainly the Company’s deployment of its CAPEX program and to refinance its US$ denominated debt, in a context where target countries are characterized by limited access to debt financing. Non-financial additionality involves ‘Standard setting’ due to IFC’s guidance to the Company to align their E&S standards with IFC’s Performance Standards.

Indicator	Metrics	Comments	Calendar Year 2022	Calendar Year 2023	Calendar Year 2024
Number of subscribers: latest available technology	Millions		Not Available	Not Available	Not Available

Please refer to the related Environmental and Social Review Summary (ESRS) document for this project.