• Phoenix Tower International (PTI) is the first independent operator of telecommunications towers in Bolivia.

• The company will be a neutral host infrastructure provider to all wireless telecom providers which will facilitate increased coverage and mobile broadband capacity across Bolivia.

IDB Invest provided a loan of $58.5 million to Phoenix Tower International (PTI) to boost the independent telecommunications infrastructure market and promote a more efficient development of this sector in the country. The project is an innovative business solution for the Bolivian market as it encourages the shared use of telecommunications towers.

The financing will allow PTI to acquire 600 existing towers and build new towers at the request of the main mobile operators in the country. The shared use promoted by the project will improve the productivity of the service, since the deployment of new networks will be more affordable and dynamic. It will also help to reduce Bolivia's connectivity gap, through the expansion of mobile broadband and the reduction of operator costs by implementing fourth-generation (4G) cellular technology.

The operation consists of a $58.5 million loan with a 10-year term. Under the leadership of IDB Invest, an additional $13.5 million has been mobilized from the Inter-American Corporation for Infrastructure Financing (CIFI) for Latin America and the Caribbean.

Mobile communication in Bolivia has a high growth potential to reduce the digital divide. The country's mobile penetration is 87 percent, the third lowest in South America, while mobile broadband only reaches 65 percent penetration and the adoption rate of 4G is 24 percent according to data from 2017. Better connectivity directly and indirectly influences economic activity, facilitates the creation of employment, increases the productivity and has a positive impact on per capital growth.

About IDB Invest
IDB Invest, the private sector institution of the Inter-American Development Bank (IDB) Group, is a multilateral development bank committed to supporting Latin America and the Caribbean businesses. It finances sustainable enterprises and projects to achieve financial results that maximize economic, social and environmental development for the region. With a current portfolio of $12.1 billion under management and 329 clients in 21 countries, IDB Invest works across sectors to provide innovative financial solutions and advisory services that meet the evolving demands of its clients.

About Phoenix Tower International
Phoenix Tower International ("PTI") owns and manages over 6,000 towers, 986 km of fiber and over 80,000 other wireless infrastructure and related sites throughout the United States, including Puerto Rico and the US Virgin Islands, Costa Rica, Panama, El Salvador, Guatemala, Colombia, Peru, Mexico, the Dominican Republic, French West Indies, Jamaica, Argentina, Ecuador, and Bolivia. Headquartered in Boca Raton, Florida, PTI was founded in 2013 with a mission to be a premier site provider to wireless operators across the Americas in high-growth markets. PTI's investors include funds managed by Blackstone Tactical Opportunities and John Hancock, as well as various members of the management team.