IFC GIVES TELECOM PER­SONAL OF AR­GENTINA ITS LARGEST LATIN AMER­I­CAN TELCO IN­VEST­MENT YET

Capacity - - Latin America -

The In­ter­na­tional Fi­nance Cor­po­ra­tion (IFC) has an­nounced it will give Telecom Per­sonal of Ar­gentina a record loan of $400 mil­lion over the next six years to help the mo­bile op­er­a­tor to ex­pand the reach of its 4G LTE net­work.

Telecom Per­sonal switched on its 4G LTE net­works in Buenos Aires, Cor­doba and Rosario in De­cem­ber 2014.

The com­pany con­firmed plans to spend ap­prox­i­mately $1.52 bil­lion on the de­ploy­ment of 3G and 4G net­works over the next three years.

This is on top of the $410.78 mil­lion al­ready spent dur­ing the 2014 multi­band spec­trum auc­tion.

The loan is the IFC’S largest in­vest­ment in the Latin Amer­i­can tele­coms sec­tor yet. The IFC is a com­po­nent of the World Bank group.

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