IDB Invest, Bladex support Tigo El Salvador to expand broadband infrastructure

Press Release

By IDB Invest

WASHINGTON - IDB Invest and Bladex joined forces to provide a financing package to Telemóvil El Salvador, S.A. de C.V. (Tigo), a subsidiary of Millicom International Cellular S.A., of up to $205 million to support the expansion of Tigo’s fixed broadband network and enhance the capacity and quality of its mobile infrastructure in El Salvador, and to refinance its maturing debt.

As data traffic is expected to surge in the coming years, expanding and upgrading network infrastructure is crucial to improving productivity, digital inclusion, and economic resilience in El Salvador. By enhancing broadband services, the project aims to unlock access to digital education, telehealth, and e-commerce opportunities for underserved populations.

The financing package includes a $150 million loan co-structured by both institutions, with $75 million contributed by IDB Invest and $75 million by Bladex. The new assistance also includes a $30 million Revolving Credit Facility (RCF) and a $25 million Digital Account Receivables Discount Facility, both fully provided by IDB Invest.

The RCF will support the acquisition of specialized equipment, while the Digital Discount Facility will finance the sale or lease of smartphones and digital services to clients, broadening access to mobile broadband, especially for middle- and low-income users. Through this innovative facility, IDB Invest may purchase receivables from Tigo and provide liquidity for device financing, helping close the affordability gap in handset access.

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 $21 billion in assets under management and over 394 clients in 25 countries, IDB Invest provides innovative financial solutions and advisory services that meet the needs of its clients in a variety of industries. Visit our website www.idbinvest.org/en.  

About Bladex

Bladex is a multinational bank founded in 1979 by the central banks of Latin America and the Caribbean to promote trade finance and economic integration in the region. Headquartered in Panama, with representative offices in Argentina, Brazil, Colombia, Mexico and an agency in the United States, the Bank provides financial solutions to institutions and corporations throughout the region. Listed on the New York Stock Exchange (NYSE: BLX) since 1992 and on the Mexican Stock Exchange for more than 10 years, Bladex has consolidated its presence in the international financial markets. Its shareholder base includes central banks, government entities and banks from 23 Latin American countries, as well as institutional and private investors.

About Tigo El Salvador  

Tigo, the commercial brand of Millicom, has been driving El Salvador’s digital evolution since 1992. With mobile coverage reaching over 95% of the country, it leads in telecommunications and digital services. Tigo offers high-speed internet, mobile, cable TV, and access to top streaming platforms. It also offers exclusive sports content through Tigo Sports. Through Tigo Business, it supports companies of all sizes with tailored connectivity solutions. And with Tigo Money, it promotes financial inclusion by delivering secure, tech-driven financial services to all Salvadorans.