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