Metro Manila (CNN Philippines, April 17) — NOW Telecom, an affiliate of Velarde-led media and technology holding firm NOW Corp., said Monday its development of a 5G network is now “in full swing” after it received the last tranche of its grant from the US government.
In a statement, NOW Telecom said it signed the secondary agreement of the US Trade and Development Agency’s (USTDA) grant for technical assistance on the rollout of 5G-powered mobile and broadband network in the Philippines.This marks the completion of the execution of all the required documents for the USTDA Project. The Project is now in full swing,” it said.NOW Telecom is working with Nokia’s research arm Bell Labs Consulting for technical assistance, which covers analysis, designs, and plans for phased implementation of the 5G wireless network in Metro Manila.To expand the project across the country, NOW Telecom might have to explore other funding opportunities here and abroad, including the Export-Import Bank of the United States and the US Development Finance Corporation.
