IIC and Access Haiti, S.A. sign a loan agreement
05/01/2011IIC financing will enable the expansion of Haiti’s internet coverage
Washington, D.C. - The Inter-American Investment Corporation (IIC) and Access Haiti, S.A. signed an agreement for a loan of up to US$3.5 million. Access Haiti S.A. will use the proceeds to upgrade its telecommunications network, thereby expanding internet service coverage to reach new cities and the countryside in Haiti. The loan will also be used to purchase, install, and operate wireless telephone and digital television services, improve the company’s core network, and upgrade its ancillary equipment.
According to Javier Hernández, IIC Investment Officer in charge of the operation, "With this operation the IIC is supporting a key sector of Haiti’s economy. This transaction is expected to contribute to the Government of Haiti’s strategy of boosting foreign investment, in particular by promoting investment in infrastructure to enhance the country’s business climate and improve education. The operation will also support internet-based commerce and enable companies to provide e-commerce services to the government."
Allen Bayard, CEO of Access Haiti said, "We are very pleased to partner with a leading multilateral financial institution like the IIC, which is committed to the development of the private sector in Haiti." Christopher Taylor, CEO of parent company Tropical Telecom Ltd. added, "Access Haiti has been aggressively investing in new technology like mobile WiMAX, VoIP, and digital TV over the past several years and this loan will allow us to accelerate the launch of world-class services in more regions of Haiti."About Access Haiti
Access Haiti is the leading provider of internet, IP telephony and related value-added services in Haiti. It began operations almost ten years ago and currently serves Haiti’s capital city, Port-au-Prince, and its ten largest cities, including Cap-Haïtien, Port-de-Paix, Gonaïves, Jacmel, Les Cayes, and Jérémie. The company operates a national network that provides coverage to more than four million people. For more information about Access Haiti, please visit www.accesshaiti.comAbout the IIC
The IIC is a multilateral financial institution that is a member of the Inter-American Development Bank (IDB) Group. The IIC’s mission is to promote the economic development of its regional member countries by encouraging the establishment, expansion, and modernization of private enterprises, particularly those that are small and medium in size. It does so by providing financing (in the form of equity investments, loans, guarantees, and other instruments) and advisory services to private enterprises in Latin America and the Caribbean. In 2010, the IIC reached US$1.4 billion in assets and approved forty-nine operations channeling US$374.8 million to SMEs in the region. For more information on the IIC’s activities, please visit www.iic.int
Contact: Javier Hernández (in Washington D.C.)
Telephone: (202) 623-3992