British International Investment

Grameenphone Limited

South AsiaCommunications & IT services

Grameenphone Ltd (GP), is the leading telecoms service provider in Bangladesh, with more than 54.5 million subscribers.

It is a joint venture between Telenor and Grameen Telecom Corporation, a non-profit sister organisation of microfinance and community development bank Grameen Bank. Telenor, the largest telecoms company in Norway, owns a 55.8 per cent share of Grameenphone.

It was the first company to introduce digital mobile technology in Bangladesh, and it built the first cellular network to cover 99 per cent of the country.

The company employs over 4,000 people directly and many more jobs are supported through its third-party vendor network.

This investment was made when British International Investment was named CDC Group.

We have now exited this investment. This is what we achieved.

Achieved impact

This information will appear shortly

Expected impact

In 2013, CDC provided a $25 million loan to Grameenphone. The loan was made as part of a lending group with the International Finance Corporation, other DFIs and Standard Chartered Bank. The total loan facility is $345 million.

The funding will help modernise the Grameenphone network and increase its coverage in rural areas, acting as a driver for wider economic growth.

Mobile phones are predicted to be the main method for accessing the internet in Bangladesh, given the high cost of PCs and fixed-line internet connections; tariffs rank among the lowest in the world.

Updating the Grameenphone network will improve access to telecoms services for both voice and data. This will help businesses of all sizes offer more goods and services to more people, more efficiently, developing the private sector at all levels.

Reporting and Complaints Mechanism

The Reporting and Complaints Mechanism allows anyone outside BII to report alleged breaches of the business integrity or environmental and social provisions of BII’s Policy on Responsible Investing. This includes breaches made by BII, a BII investee, or a portfolio company of a fund in which BII has invested. The Reporting and Complaints Mechanism Rules are available here. Reports and complaints can be submitted by email to [email protected] or by mail. See more details on our Reporting and Complaints Mechanism here.

For any other general enquiries contact us at [email protected]

  • Key facts

    Last updated

    When the last quarterly update of the website database occurred.

    March 2024
    Project number

    An identifier number shared by investments in the same project.


    The current status of the investment (green flag for active and red flag for exited).


    The geographical region where the country is located. We currently invest in Africa, South Asia, South East Asia and the Caribbean. In 2023, BII’s investment mandate was extended allowing it to invest in regional funds linked to Ukraine, with the majority of activity expected to begin post-war. Investments outside these regions were made prior to 2012 under previous investment mandates.

    South Asia

    We prioritise those sectors that facilitate development and need our capital the most. Our priority sectors contribute towards many of the Sustainable Development Goals. They range from investing in the power infrastructure that will provide people with better access to electricity, to investing in financial institutions that direct capital to the individuals and businesses that need it the most.

    Communications & IT services

    We provide capital in the following ways: directly – through direct equity, direct debt, guarantees and other non-intermediated financial instruments; and indirectly – principally through investment funds.

    For direct investments and fund investments, this is the date BII committed capital to the investments. This is typically the date on which legal agreements are signed by all parties.

    For the portfolio companies of our fund investments, this is the date (either the month or the quarter) on which the fund committed capital to the portfolio company.

    For direct equity investments, this is the date at which British International Investment exited the investment.

    For debt investments, this is the date at which the final debt repayment was made.

    For funds, this is the date at which the fund was terminated.

    For underlying fund investments, this is the date at which the fund manager exited the investment.

    The total amount committed, per financial instrument, per investment, on the date BII becomes subject to a binding legal obligation to provide funding or assume a contingent liability. This information is provided in US dollars.

    For direct investments, this is the amount that BII has committed to the business or project. For fund investments, this is the amount BII has committed to the fund.

    The currency in which the investment was made.

    Investment type :
    Start date :
    May 2013
    End date :
    April 2020
    Amount :
    Currency of investment :

    The company or investment fund’s place of incorporation.


Subscribe to receive our latest news and updates