IFC loans Telecom Personal $400m to expand 4G network

By:
Bill Boyle
Published on:

The International Finance Corporation (IFC) has announced it will give Telecom Personal $400m to help it expand its 4G LTE network


The International Finance Corporation (IFC), a component of the World Bank Group, has just announced it will give Telecom Personal of Argentina $400m deal over six years to help the mobile operator to expand the reach of its 4G LTE network, said TeleGeography on October 7, 2016.

The loan is the IFC's largest investment in the Latin American telecoms sector to date.

Telecom Personal switched on its 4G LTE networks in Buenos Aires, Cordoba and Rosario in December 2014.

The company confirmed plans to spend approximately $1.52bn on the deployment of 3G and 4G networks over the next three years. This is on top of the $410.78m already spent during the 2014 multi-band spectrum auction.