The Asian Infrastructure Investment Bank (AIIB) has allocated $150 million for a satellite internet public-private partnership (P3) in Indonesia.
The long-term financing package will go to Satelit Nusantara Tiga (SNT) to fund a multi-functional satellite that will provide much-needed broadband internet service to more than 149,400 unserved public service points, covering 45 million people.
Indonesia is the world’s fourth most populous country; however, more than 10,500 villages still do not have cellular network coverage, and fiber optic cables primarily serve only urban areas, according to AIIB. The satellite will reach schools, hospitals and local government locations in some of the least developed regions of Indonesia.
This will be the first satellite P3 project to be supported by AIIB and will be co-financed in conjunction with HSBC, Santander and Korea Development Bank.
