WASHINGTON — IDB Invest and IDB Lab joined forces with One Communications, a leading provider of digital infrastructure and telecommunications services, to enhance connectivity and digital financial services in Guyana. IDB Invest will provide up to US$40 million in financing. This is the first telecommunications project in the Caribbean for IDB Invest and IDB Lab.

The project aims to support the ongoing project expansion of fiber-optic coverage to over 80% of premises, migrating customers to fiber-based services, and upgrading the mobile network to 4.5G/5G technologies. The initiative is expected to expand mobile coverage and improve network quality and reliability, while supporting national efforts to enhance connectivity and access to education, particularly in remote areas.

IDB Invest’s financial package comprises a senior secured loan of up to US$30 million and a committed revolving credit facility of up to US$10 million. The financing provides for continued investments in mobile networks, fiber-to-the-home (FTTH) infrastructure, and working capital requirements. Additionally, the project is supported by IDB Invest’s long-term financing conditions, including loan tenor and size not currently available in the local market.

Complementing the broader network expansion initiative, IDB Lab is supporting Mobile Money Guyana (MMG)—a subsidiary of One Communications—with expertise to expand access to digital financial services for unbanked and underbanked populations. MMG currently serves more than 100,000 subscribers through a network of approximately 3,600 agents. With IDB Lab’s support, MMG intends to expand its presence in underserved regions, upgrade its technology platform, and pursue the launch of new services with the goal of reaching 30,000 new users in regions 3, 4, and 5 of Guyana.

Together, the IDB Invest and IDB Lab initiatives aim to foster economic participation, close digital and financial gaps, and promote resilient economic growth across Guyana. 

About IDB Invest 

IDB Invest is a multilateral development bank committed to promoting the economic development of its member countries in Latin America and the Caribbean through the private sector. IDB Invest finances sustainable companies and projects to achieve financial results and maximize economic, social, and environmental development in the region. With a portfolio of $21 billion in assets under management and over 394 clients in 25 countries, IDB Invest provides innovative financial solutions and advisory services that meet the needs of its clients in a variety of industries. Visit our website idbinvest.org/en.   

About IDB Lab 

IDB Lab is the innovation and venture arm of the Inter-American Development Bank Group. We focus on entrepreneurship and technology to cocreate solutions for development challenges and spark new industries for growth in Latin America and the Caribbean. IDB Lab supports high-impact startups and the innovation ecosystems they need to thrive through flexible financing, practical knowledge, and global connections. www.idblab.org . 

About One Communications 

One Communications (Guyana), a subsidiary of ATN International, is a leading provider of digital infrastructure and telecommunications services across Guyana. With a commitment to bridge the digital divide, One Communications focuses on delivering innovative wireless and wireline connectivity solutions to both urban and rural markets with a growing demand for advanced connectivity. For more information, please visit https://onecomm.gy/en.

About Mobile Money Guyana (MMG) 

Mobile Money Guyana (MMG) is a subsidiary of One Communications and part of ATN International. MMG is dedicated to transforming the financial landscape of Guyana by offering innovative mobile financial solutions that cater to the needs of the unbanked and underbanked populations. MMG's ambitious initiative to expand financial inclusion in Guyana represents a significant step towards creating a more equitable and prosperous society. https://www.mmg.gy/.