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El Salvador: bridging the digital divide
Project
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Signature date
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Location
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Guatemala, Nicaragua, Salvador, Multi-country Latin America and the Caribbean
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Financing tool
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Financing amount (Euro)
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26520509
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Financing details
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USD 30m loan
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Customer
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TORRECOM PARTNERS LLC Y COMPANIA LIMITADA TORRECOM GUATEMALA LIMITADA TORRECOM EL SALVADOR, LTDA. DE C.V.
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Type of customer
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Company
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Project number
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PZZ1584
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Environmental and social ranking
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B
This information is given at the time of signature, without prejudice to any developments in the operation/project.
Proparco has allocated almost USD 30m to Torrecom to support the company’s expenditure to extend and improve its telecom coverage.
Client presentation
Torrecom is an independent developer and manager of telecom towers (“TowerCos”). It operates in Central America (Nicaragua, Panama, Mexico and Guatemala) and South America (Peru, Colombia). Torrecom ranks 8th among the independent TowerCos in Latin America. PROPARCO is the longstanding lender to Torrecom: in 2017, it largely contributed to the Group’s first growth phase by allocating a first USD 25m loan for the development of its activities in Nicaragua and Guatemala.
Project description
The project involves a USD 30m loan to finance the acquisition of an existing portfolio of 215 telecom towers and includes measures to improve and extend mobile phone coverage.
Project impact
By supporting the model of neutral, open and pooled infrastructure, Proparco is contributing to the fight against the digital divide: improved access to a 4G service for some 23,000 people is expected over the next 5 years, while limiting their environmental footprint. The project should also support 80 jobs over the next 5 years.