Company name
Colombia Móvil S.A. ESP.
Project number
12799-01
Category B projects have potential environmental and/or social impacts and risks that are less adverse than those of a Category A and which are generally limited to the project site, largely reversible and can be mitigated via measures that are readily available and feasible to implement in the context of the operation.
E&S category
B
Country
Colombia
Sector
Digital Economy
Status
In implementation
Disclosed date
12/22/2020
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
03/12/2021
Approval date
03/12/2021
Signed date
12/20/2021
Sponsoring entity
N/A
Investment Operations Department Contact
Portfolio Management Division
Investment type
Syndicated amount
N/A
Financing amount
USD $ 175,936,000
Currency
COP
Project scope and objective
The Transaction is made up of a facility (the “Facility”) of up to COP625 billion for the end benefit of Colombia Móvil S.A. ESP (the “Company” or “Tigo”), whereby IDB Invest will issue one or more letters of credit (the “SBLC”) to other local banks acceptable to IDB Invest (the “Bank”) in order to cover Tigo’s obligations under certain security issued by the Bank in favor of the Ministry of Information Technology and Communications (“MinTIC”) and the Single Information Technologies and Communications Fund (“FonTIC”). The SBLC will support Tigo’s obligations under the resolutions issued by the MinTIC related to the assignment of 40MHz of band spectrum of 700MHz (the “Resolutions”), including: (a) annual payments for the granted spectrum, and (b) performance obligations related to the 4G LTE network deployment in 5 years.
The proposed Facility is aimed at promoting the 4G LTE network expansion in rural and underserved areas in the country, supporting the Company’s spectrum acquisition and network deployment plan.
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Contact information
For inquiries, comments and information requests about the project
Request informationAlternatively, you may also use the following contact information :
Client Contact
Luisa.Cardona@tigo.com.co
PHONE NUMBER
+57-4-515-1726
POST OFFICE ADDRESS
IDB Invest Contact
requestinformation@idbinvest.org
PHONE
+1(202)-566-4566
ADDRESS
1350 New York Ave NW, Washington, DC 20005
COUNTRY OFFICES
IDB Invest Country OfficesFor inquiries, comments and information requests about the project
Request informationLearn more about how we provide private-sector solutions in the region .
Environmental and social review
IDB Invest conducts an environmental and social due diligence (ESDD) commensurate with the nature, scale, and stage of the project, and with its level of environmental and social risks and impacts. The ESDD will confirm the project E&S categorization and assess the project with respect to the client requirements in IDB Invest Environmental and Social Sustainability Policy. The results of the ESDD, including any identified gaps are described in the Environmental and Social Review Summary (ESRS) provided below. For projects approved as of 2016, any gaps with respect to IDB Invest's Environmental and Social Sustainability Policy at the time of the ESDD are addressed in the Environmental and Social Action Plan (ESAP) presented below, to comply with the date mentioned above.
COLOMBIA MÓVIL (MILLICOM) CAPEX - ENVIRONMENTAL AND SOCIAL SUMMARY REVIEW (ESRS)
317.4 Kb
COLOMBIA MÓVIL (MILLICOM) CAPEX - ENVIRONMENTAL AND SOCIAL ACTION PLAN (ESAP)
112.6 Kb