Company name

PTIE – Phoenix Tower International Ecuador S.A.

Project number

13023-01

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
tooltip

B

Country

Ecuador

Sector

Telecommunications, Media and Technology

Status

In implementation

Disclosed date

06/16/2020

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

Projected board date
tooltip

07/16/2020

Approval date

07/16/2020

Signed date

08/07/2020

Sponsoring entity

Phoenix Tower International III, LLC

Team leader

Vega Aldana, Mario Andres

Investment type

Financing requested

N/A

Syndicated amount

USD $ 11,800,000

Financing amount

USD $ 80,000,000

Currency

USD

Project scope and objective

The Proposed transaction is long-term secured financing of up to US$110 million to support Phoenix Tower International’s (“PTI”) shared infrastructure business model in Ecuador, kickstarted by the acquisition of an existing tower portfolio from Otecel S.A. (“Movistar Ecuador”), together with additional growth capital expenditure and working capital needs (the “IDB Group Financing”). The IDB Group Financing consist of IDB Group A-loans of up to US$80 million and a potential co-loan of US$30 million mobilized by IDB Invest.



PTI is one of the largest independent wireless infrastructure operators and has been growing rapidly in Americas and the Caribbean since its start of operation in 2014. The Company’s innovative digital infrastructure sharing model will allow different mobile network operators to increase mobile broadband capacity and coverage more efficiently in Ecuador, which is especially critical in the context of COVID-19 pandemic in which social distancing requires reliable broadband connectivity.


For inquiries, comments and information requests about the project

Request information

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

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. Any gaps with respect to the IDB Invest Sustainability Policy at the time of the ESDD are addressed in the Environmental and Social Action Plan (ESAP) provided below.

ENVIRONMENTAL AND SOCIAL REVIEW

44.3 Kb

PTI ECUADOR - ESRS AND ESAP - JUN 2020

245.8 Kb

For inquiries, comments and information requests about the project

Request information

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

Contact information

For inquiries, comments and information requests about the project

Request information

Alternatively, you may also use the following contact information:

Client Contact

CONTACT NAME

N/A

POSITION

N/A

PHONE NUMBER

N/A

EMAIL

N/A

IDB Invest Contact

EMAIL

requestinformation@idbinvest.org

PHONE

+1(202)-566-4566

ADDRESS

1350 New York Ave NW, Washington, DC 20005

COUNTRY OFFICES

IDB Invest Country Offices