IIC signs loan with Telecom in Argentina for $100 million
The project will support the expansion of 4G mobile broadband network throughout the country
The Inter-American Investment Corporation (IIC), a member of the Inter-American Development Bank (IDB) Group, signed a $100 million financing package with a six-year tenor with Telecom Personal, the wireless mobile operator of Telecom Group, to expand its 4G network across the country.
The project is part of the operator's investment plan to continue the expansion of its 4G mobile broadband technology throughout the country and modernize existing telecommunications infrastructure to further improve the coverage and capacity of its networks.
Telecom Personal’s 4G network is growing steadily, and benefits approximately 800 locations and more than six million Argentines. Among Telecom Group’s main investment projects are the expansion of its 4G network, which now covers 86 percent of the population in key cities; the replacement of its 2G and 3G network equipment; and the expansion of its fiber optic network and updates to its systems.
The agreement was signed on Friday in Buenos Aires by Germán Vidal, CEO of the Telecom Group; Luis Alberto Moreno, president of the Inter-American Development Bank, and James P. Scriven, CEO of the IIC.
About the Inter-American Investment Corporation
The Inter-American Investment Corporation (IIC), a member of the Inter-American Development Bank Group (IDB Group), is a multilateral development bank committed to supporting the private sector in Latin America and the Caribbean. The IIC finances sustainable enterprises and projects to achieve financial results that maximize social and environmental development for the region. With a current portfolio of $11 billion under management and 350 clients in 21 countries, the IIC works across sectors to provide innovative financial solutions and advisory services that meet the evolving demands of its clients.