IDB Invest closed a $100 million master receivables purchase facility with Cable and Wireless Panama (CWP), a leading telecommunications operator in Panama, to strengthen CWP’s ability to provide state-of-the-art technology solutions to customers and close the digital divide.

The facility allows CWP to monetize existing and future credit rights under public and private long-term project contracts. This ensures CWP has access to liquidity to strategically invest in fixed broadband services and infrastructure, increasing its fixed broadband offer and quality services from 179,400 consumers in 2021 to more than 225,000 by September 2023.

The facility provides an innovative and alternative way to create additional liquidity for CWP, by monetizing long-term contracts through a financial structure not available in the local market.

Panama has become a regional hub for technological innovation and the interconnection of fiber optic cables. By enhancing and expanding fiber optic networks, broadband services will have an even greater impact on economic growth by enabling digital access that provides numerous benefits from more productive businesses and more efficiently delivered public services, to empowering people with knowledge and information.

Additionally, IDB Invest is providing gender advisory services to help CWP strengthen its “ELLAS” program designed for women to grow professionally within the organization, empowering them in CWP and across Panamanian communities to thrive. CWP has committed to ambitious targets to provide women in their workshops with leadership tools to succeed, including 100 women who are currently undergoing an online leadership training.

The project is aligned with IDB Invest’s commitment to boosting connectivity and digital adoption aligned with the National Digital Agenda to promote digital transformation in Panama.

This deal is expected to contribute to the following United Nations Sustainable Development Goals (SDGs): Industry, Innovation, and Infrastructure (SDG 9) and Partnerships for the Goals (SDG 17).

About IDB Invest

IDB Invest, a member of the Inter-American Development Bank Group, 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 $16.3 billion in assets under management and over 390 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.

About Cable & Wireless Panama S.A.

Cable & Wireless Panama is one of the main telecommunications companies in the country and operates commercially under the +Movil brand. Cable & Wireless Cala Holdings Limited (49%), a subsidiary of Liberty Latin America, the Government of the Republic of Panama (49%) and the trust in favor of the employees (2%), jointly owns it. We are a major provider of fixed, mobile, broadband, pay TV, corporate and business services. We are committed to contribute towards the the social and economic development of Panama through investing in projects and programs to provide equal access to telecommunications, closing the digital divide, and promoting access to new information technologies. For more information, visit: masmovilpanama.com.

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An earlier version of this release stated "...increasing its fixed broadband quality offer and services from 179,400 in 2021 to more than 256,000 by the end of 2023".

At CWP's request, the text was amended to "...increasing its fixed broadband offer and quality services from 179,400 in 2021 to more than 225,000 by September 2023."