Washington, D.C. / Buenos Aires, October 6, 2016
—IFC, a member of the World Bank Group, will provide a $400 million 6-year financing package for Telecom Personal S.A., a leading Argentine wireless company, to expand its 4G LTE broadband network. This will be IFC’s largest investment in Latin America’s telecommunications sector. It will help improve Argentina’s wireless broadband connectivity and increase geographic coverage.
“IFC’s support reflects Telecom Personal financial strength”, said Ignacio Moran, the company’s CFO. “This financing will enable us to continue investing in the latest technology to provide the best service to our 20 million mobile customers in Argentina, through a platform that will make possible services for the next decade.”
Although Argentina has been one of the last countries in Latin America to launch 4G services, network upgrades and 4G rollouts are providing much needed additional broadband capacity and positioning Argentina at a par with regional peers.
As one of the leading development financiers in the telecommunications sector in emerging markets, IFC helps to facilitate better broadband connectivity by partnering with mobile operators as they expand their networks to new areas. Increased broadband connectivity facilitates international economic integration and boosts standards of living. Inclusive access to the Internet also contributes to more productive small enterprises, as well as to more transparent public institutions.
“This investment reflects IFC’s commitment to support key private sector players who significantly contribute to Argentina’s development goals. It will help boost a sector that is fundamental to the country’s economic and social growth,” said Dimitris Tsitsiragos, IFC Vice President for Global Client Services. “Expanding mobile broadband infrastructure promotes productivity, and helps empower entrepreneurs by providing digital services like mobile e-commerce”.
In Argentina, IFC has committed more than $2.1 billion in sustainable private sector projects over the past 15 months. IFC’s strategy in Argentina is focused on financing projects with significant development impact for spurring economic growth, innovation and job creation. Priority sectors include agribusiness, infrastructure and renewable energy; competitive manufacturing; strengthening long-term financing for companies, including small and medium enterprises (SMEs); and helping to improve investment climate for business start-ups and SMEs growth.
About IFC
IFC, a member of the World Bank Group, is the largest global development institution focused on the private sector in emerging markets. Working with 2,000 businesses worldwide, we use our six decades of experience to create opportunity where it’s needed most. In FY16, our long-term investments in developing countries rose to nearly $19 billion, leveraging our capital, expertise and influence to help the private sector end extreme poverty and boost shared prosperity. For more information, visit
www.ifc.org
.
About Telecom Personal
Telecom Personal is one of the largest mobile communications companies in Argentina with over 20 million customers. Offers flexible services on 2G / 3G networks and the progressive deployment of the most powerful 4G / LTE network in the country, contributing to enhance client´s experience of mobile connectivity and interaction. Nowadays Personal 4G / LTE network is available in more than 555 locations, including all provincial cities and Buenos Aires and its metro area, with a coverage of more than 73% of the areas in these cities. PERSONAL operates since 1996 and its majority shareholder is Telecom Argentina S.A. For more information:
www.personal.com.ar
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