Digicel asks for loan to launch services in Honduras

The Irish-owned Caribbean and Central American mobile telecommunications group Digicel has approached the World Bank, for a loan of between USD50 million and USD75 million to help fund its estimated USD400 million investment to launch commercial services in Honduras.

Tuesday, May 6, 2008

According to a report on the IFC’s website, as quoted by BNamericas, the World Bank body has applauded Digicel’s credit history and welcomed its plans for Honduras, a country where ‘private financing from local or from international commercial banks without multilateral support is scarce’. The IFC statement went on to say that ‘the entry of an experienced player such as Digicel into the market will encourage the existing mobile operators to invest further in their networks, thereby increasing availability and stimulating improved service standards, the development of value added services, and lower tariffs for consumers.’

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The Guatemalan company Continental Towers will receive funding from the International Finance Corporation to build and maintain cell towers in Central America.

According to an article in Elperiodico.com.gt, "The IFC's investment includes a loan of $40 million and a syndicated loan of $80 million with Banco HSBC Panamá, Banco General de Panamá, the Dutch Entrepreneurial Development Bank (FMO) and the Inter American Corporation for Infrastructure Financing. "

IFC Invests in Mobile Banking Development in LA

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Digicel to pump US$334m in Panama operations

September 2008

The project consists of the construction and operation of a greenfield mobile cellular telephone network in Panama.

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Digicel to invest $350 million in Honduras

June 2008

The Irish company Digicel plans to enter the Honduran market in December, and has announced that it will invest 350 million dollars in its first year of operations.

The investment will be divided among development and network infrastructure, telecommunications equipment, and the introduction of the brand, channels and terminals.

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