Company name
(a) Telefónica de Costa Rica TC, S.A.; (b) Telefónica Móviles Panamá, S.A.; and (c) Telefónica Móviles Guatemala, S.A.
Project number
12453-01 / 12454-01 / 12296-02
Category C projects are those that are likely to result in very limited or no adverse environmental or social impacts or risks.
E&S category
C
Country
Sector
Digital Economy
Status
In implementation
Disclosed date
10/30/2018
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
11/30/2018
Approval date
12/03/2018
Signed date
12/13/2018
Sponsoring entity
N/A
Investment Operations Department Contact
N/A
Investment type
Syndicated amount
N/A
Financing amount
USD $ 14,000,000
Currency
USD
Project scope and objective
The Project consists of an uncommitted receivable purchase facility individually set up for Telefónica de Costa Rica TC, S.A.; Telefónica Móviles Guatemala, S.A. and Telefónica Móviles Panamá, S.A. (“Telefonica Centroamérica” or “Movistar”) for up to US$14 million, US$5 million and US$5 million respectively (the "Facility") to sell mobile phone handset receivables originated by Movistar. The Facility will have an availability period of 48 months. The receivables have a repayment period of up to 24 months from the issuance date of the handset contract. Under the Facility, IDB Invest shall purchase, in its sole discretion, the mobile phone handset receivables.
The Project seeks to support the adoption and use of smartphones that allow the final subscribers of Telefónica Centroamérica to access to data services. Greater access to data services has a positive impact on economic development since broadband penetration facilitates the creation of jobs, promotes the creation of business, increases productivity, and positively impacts per capita growth. However, there are important barriers to deal with dramatic growth in data uses, one of which is the cost of acquiring equipment and technologies that allow end users to use Internet services. The proposed Project is one of the ways that IDB Invest will seek to address this barrier.
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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
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 OfficesFor inquiries, comments and information requests about the project
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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
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