Company name
Colombia Telecomunicaciones S.A. ESP - Coltel
Project number
12618-01, 12618 - 02
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
B
Country
Colombia
Sector
Digital Economy
Status
In implementation
Disclosed date
08/09/2019
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
09/10/2019
Approval date
09/10/2019
Signed date
N/A
Sponsoring entity
N/A
Investment Operations Department Contact
Portfolio Management Division
Investment type
Syndicated amount
N/A
Financing amount
N/A
Currency
USD
Project scope and objective
The project consists of two types of financing: (i) a line of credit for up to US$100 million in local currency to finance the fixed investments of Colombia Telecomunicaciones S.A. ESP (hereinafter “Coltel,” “Enterprise,” or “Company”) during the 2019-2020 year (the “Financing”); and (ii) a facility for purchasing up to US$60 million of accounts receivable (the “Facility”) that will be used to discount invoices from Coltel’s program to finance individual and corporate subscribers’ purchase of mobile devices, communication equipment, and telecommunications service. The line of credit granted under the Financing will have a term of up to seven years and a grace period of up to two years. The Facility will be available for a period of up to 48 months and invoices will have a payment period of up to 24 months. The company is not obliged or committed to take the line of credit under the Financing or the purchase of portfolio under the Facility.
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Contact information
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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 OfficesIndividuals or communities can submit complaints and concerns related to environmental, social, or corporate governance issues to the Management Grievance Mechanism by e-mailing mgm@iadb.org or by calling +1 202 312 4040.
As a last resort, affected communities have access to the IDB Invest Independent Consultation and Investigation Mechanism by writing to mecanismo@iadb.org or MICI@iadb.org or calling +1(292) 623-3952.
IDB Invest has zero tolerance to reprisal or retaliation against anybody who voices its opinion or opposition to IDB Invest-financed projects.
For inquiries, comments and information requests about the project
Request informationLearn more about how we provide private-sector solutions in the region .