WASHINGTON – IDB Invest and Proparco have announced a 
$100 million investment in a private bond denominated in Colombian Pesos by Millicom International Cellular S.A., supporting efforts to accelerate digital infrastructure development across Latin America.

IDB Invest will anchor the issuance with $50 million in local currency, mobilizing Proparco for the remaining $50 million. Additional funding may also be provided by different development finance institutions.

The transaction, which will be carried out in local currency, will support the deployment of high-speed mobile and fixed broadband networks, enhance service quality, and expand access to affordable digital services in key markets including Bolivia, Colombia, El Salvador, Guatemala, Honduras, Panama, and Paraguay.

By accelerating connectivity across the region, the project will foster growth, strengthen public service delivery, and expand digital opportunities for millions of people.

Millicom, operating under the Tigo brand, will use the proceeds to finance network upgrades to 4G, 4.5G, and 5G technologies, expand fiber-optic coverage, and support its business-to-business segment. With a presence across 12 countries in Latin America and an active investment agenda, Millicom is well positioned to shape the region's connected future.

This transaction comes at a pivotal time for Latin America, where data traffic is expected to triple by 2030, a trajectory that demands sustained investment in infrastructure to keep pace with growing demand. Meeting this opportunity requires continued commitment from both the private sector and development finance institutions.

The project includes environmental and social action plans, reinforcing IDB Invest’s and Proparco's commitment to sustainability and resilience.

This partnership strengthens IDB Invest’s long-standing relationship with Millicom  and underscores its role in mobilizing capital for impactful development through the private sector in Latin America and the Caribbean.

About IDB Invest 
 

IDB Invest, a member of the IDB Group, 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 $22 billion in assets under management and more than 440 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: www.idbinvest.org/en.

About Millicom
 

Millicom (NASDAQ: TIGO) is a leading provider of fixed and mobile telecommunications services in Latin America. Through its TIGO® and Tigo Business® brands, the company provides a wide range of digital services and products, including TIGO Money for mobile financial services, TIGO Sports for local entertainment, TIGO ONEtv for pay TV, highspeed data, voice, and business-to-business solutions such as cloud and security. As of December 31, 2025, Millicom, including its Honduras Joint Venture, employed approximately 15,000 people and provided mobile and fiber-cable services through its digital highways approximately 52 million customers, with a fiber-cable footprint over 14 million homes passed. Founded in 1990, Millicom International Cellular S.A. is headquartered in Luxembourg with principal executive offices in Doral, Florida.

About Proparco
 

Proparco is a subsidiary of the Agence française de développement group (AFD), and has been working alongside private-sector players for over 45 years, in favour of a fairer and more sustainable world. With an international network of 23 local offices, Proparco works closely with its partners in order to build sustainable solutions to environmental and social challenges in Africa, the Middle East, Asia and Latin America. Proparco has sector-specific expertise, a diversified range of financial tools adapted to the different stages of a company's development, notably through its subsidiary Digital Africa, and a technical support offer, Propulse, to leverage the impact and performance of its partners. With its new 2023-2027 strategy “Acting together for greater impact”, Proparco is exploring, strengthening and amplifying its modes of intervention with its partners. Find out more: https://www.proparco.fr/fr/strategie. For more information: http://www.proparco.fr | @Proparco | LinkedIn