Company name
Millicom International Cellular, S.A.
Project number
12215-01
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
Regional
Sector
Digital Economy
Status
In implementation
Disclosed date
03/02/2018
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
04/03/2018
Approval date
04/03/2018
Signed date
07/11/2018
Sponsoring entity
N/A
Investment Operations Department Contact
N/A
Investment type
Syndicated amount
USD $ 48,330,100
Financing amount
USD $ 50,000,000
Currency
COP, USD
Project scope and objective
IDB Invest is considering an investment of up to US$ 50,000,000 in a private placement of a note denominated in Colombian Pesos (COP) with interest payable in US dollars but indexed to COP, that may be issued by Millicom International Cellular, S.A., a multinational company with significant revenues coming from Latin American countries (LAC).
Proceeds from the note would be used by the Company for, amongst other purposes, regional capex and general corporate purposes in IDB Invest’s regional member countries (“the Project”).
IDB Invest's commitment to purchase the note would be subject to certain conditions being met, including the Company agreeing to comply with IDB Invest's environment and social policies whilst IDB Invest is a noteholder.
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Addendum to Millicom’s disclosure - March 20, 2018:
Previous amount: US$80 million
New amount: US$50 million
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Project images
Contact information
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Client Contact
N/A
PHONE NUMBER
N/A
POST OFFICE ADDRESS
N/A
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 OfficesIndividuals or communities can submit complaints and concerns related to environmental, social, or corporate governance issues to the Management Grievance Mechanism by e-mailing mgm@iadb.org or by calling +1 202 312 4040.
As a last resort, affected communities have access to the IDB Invest Independent Consultation and Investigation Mechanism by writing to mecanismo@iadb.org or MICI@iadb.org or calling +1(292) 623-3952.
For 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.
ENVIRONMENTAL AND SOCIAL REVIEW SUMMARY
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