• The projects seeks to expand the reach of broadband internet services, which are a key pillar for digitalization and economic growth in Argentina.

   

IDB Invest is boosting connectivity and sustainability in Argentina through a financial package of up to $110 million for Metrotel to accelerate the deployment of its fiber optic network in homes, expanding access to high-quality internet. The financing includes a $25 million loan from IDB Invest and $25 million mobilized from Itaú BBA. Additionally, the transaction includes a commitment to mobilize up to an additional $60 million.

Metrotel operates a 6,400 km fiber optic network in the metropolitan area of ​​Buenos Aires, with more than 25 years as a leader in B2B solutions, indirectly serving more than 10,000 homes. 

IDB Invest's support also includes advisory services to Metrotel to implement environmental and social management best practices, including decarbonization strategies, aligned with mitigating climate change and promoting inclusive and sustainable digital infrastructure, driving social development in Latin America and the Caribbean.

“This deal will improve the connectivity experience for Argentina and strengthen Metrotel’s ability to offer essential digital services, fostering digitalization, economic competitiveness and regional integration, in line with our intention to continue scaling IDB Invest’s impact in Argentina,” said James Scriven, CEO of IDB Invest.

Improving access to digital technologies aims to facilitate regional integration, government digitalization, and unlock new opportunities for Argentines. High-quality fiber networks like Metrotel's are essential to developing a robust digital ecosystem that fosters key sectors such as fintech, online education, e-commerce, and telemedicine.

“This initiative aims to improve telecommunications infrastructure, which is a fundamental step in the process of digital transformation and economic development in Argentina,” said Sebastian Bardengo, CEO of Metrotel.

The deal is expected to contribute to the following United Nations Sustainable Development Goals (SDGs): Zero Hunger (SDG 8), Decent Work and Economic Development (SDG 9), Industry, Innovation and Infrastructure and (SDG 17) Partnerships for the Goals.

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 US$21 billion in managed assets and 394 clients in 25 countries, IDB Invest provides innovative financial solutions and advisory services that respond to the needs of its clients in various sectors. Visit our website idbinvest.org.

About Metrotel

For more than 30 years, it has provided telecommunications services to leading companies in Argentina, developing products and services for different business segments, seeking customer satisfaction, continuous growth and technological innovation. It has a fiber optic network of +8000 km, with its own solid infrastructure, which allows it to offer reliable and highly available services. It is currently implementing a model that allows the development of telecommunications in general, called the Neutral FTTH Network. This model allows more than one provider to provide internet services to end users over the same fiber optic network, achieving rational use of public space, optimizing costs and enabling access to cutting-edge technological resources for the population. More information at metrotel.com.ar.

About Itaú BBA

Itaú BBA is the largest private bank in Latin America, committed to sustainable development and the generation of value for its clients throughout the 18 countries where it has a presence. With 100 years of history, Itaú BBA has approximately 70 million clients, including individuals and companies from all segments, with a strategic agenda focused on customer centrality, supported by cultural and digital transformation, both supported by financial sustainability.