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Company name

Colombia Móvil S.A. ESP.

Project number

12799-01

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
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B

Country

Colombia

Sector

Digital Economy

Status

In implementation

Disclosed date

12/22/2020

Projected date at which a project will be put forward for the Board of Executive Directors’ approval.

Projected board date
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03/12/2021

Approval date

03/12/2021

Signed date

12/20/2021

Sponsoring entity

N/A

Investment Operations Department Contact

N/A

Investment type

Syndicated amount

N/A

Financing amount

USD $ 175,936,000

Currency

COP

Project scope and objective

The Transaction is made up of a facility (the “Facility”) of up to COP625 billion for the end benefit of Colombia Móvil S.A. ESP (the “Company” or “Tigo”), whereby IDB Invest will issue one or more letters of credit (the “SBLC”) to other local banks acceptable to IDB Invest (the “Bank”) in order to cover Tigo’s obligations under certain security issued by the Bank in favor of the Ministry of Information Technology and Communications (“MinTIC”) and the Single Information Technologies and Communications Fund (“FonTIC”). The SBLC will support Tigo’s obligations under the resolutions issued by the MinTIC related to the assignment of 40MHz of band spectrum of 700MHz (the “Resolutions”), including: (a) annual payments for the granted spectrum, and (b) performance obligations related to the 4G LTE network deployment in 5 years.

 

 

The proposed Facility is aimed at promoting the 4G LTE network expansion in rural and underserved areas in the country, supporting the Company’s spectrum acquisition and network deployment plan.

 

 

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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.

COLOMBIA MÓVIL (MILLICOM) CAPEX - ENVIRONMENTAL AND SOCIAL SUMMARY REVIEW (ESRS)

317.4 Kb

COLOMBIA MÓVIL (MILLICOM) CAPEX - ENVIRONMENTAL AND SOCIAL ACTION PLAN (ESAP)

112.6 Kb

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Contact information

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Alternatively, you may also use the following contact information :

Client Contact

EMAIL

Luisa.Cardona@tigo.com.co

PHONE NUMBER

+57-4-515-1726

POST OFFICE ADDRESS

IDB Invest Contact

EMAIL

requestinformation@idbinvest.org

PHONE

+1(202)-566-4566

ADDRESS

1350 New York Ave NW, Washington, DC 20005

For inquiries, comments and information requests about the project

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Learn more about how we provide private-sector solutions in the region .