- IDB Invest and Banco Latinoamericano de Comercio Exterior (Bladex, NYSE: BLX), co-led a comprehensive financing package of up to $205 million for Tigo El Salvador to expand broadband infrastructure and support digitalization.
- The financing will help increase access to affordable smartphones and digital services, bridging the digital gap across El Salvador.
PANAMA CITY, July 28, 2025 /PRNewswire/ — IDB Invest and Bladex are providing a financing package to Telemóvil El Salvador, S.A. de C.V. (Tigo), a subsidiary of Millicom International Cellular S.A., to support the expansion of Tigo’s fixed broadband network, enhance the capacity and quality of its mobile infrastructure, and refinance maturing debt.
The package includes a $150 million loan, co-structured by both institutions, with $75 million contributed by IDB Invest and $75 million by Bladex, as well as a $30 million Revolving Credit Facility (RCF), and a $25 million Digital Account Receivables Discount Facility, both fully provided by IDB Invest. The RCF will support the acquisition of specialized equipment, while the Digital Discount Facility will finance the sale or lease of smartphones and digital services to clients, broadening access to mobile broadband, especially for middle- and low-income users. Through this innovative facility, IDB Invest may purchase receivables from Tigo and provide liquidity for device financing, helping close the affordability gap in handset access.
As data traffic is expected to surge in the coming years, expanding and upgrading network infrastructure is crucial to improving productivity, digital inclusion, and economic resilience. By enhancing broadband services, the project aims to unlock access to digital education, telehealth, and e-commerce opportunities for underserved populations.
About IDB Invest
IDB Invest 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 $21 billion in assets under management and over 394 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. Visit our website www.idbinvest.org/en.
About Bladex
Bladex is a multinational bank founded in 1979 by the central banks of Latin America and the Caribbean to promote trade finance and economic integration in the region. Headquartered in Panama, with representative offices in Argentina, Brazil, Colombia, Mexico and an agency in the United States, the Bank provides financial solutions to institutions and corporations throughout the region. Listed on the New York Stock Exchange (NYSE: BLX) since 1992 and on the Mexican Stock Exchange for more than 10 years, Bladex has consolidated its presence in the international financial markets. Its shareholder base includes central banks, government entities and banks from 23 Latin American countries, as well as institutional and private investors.
About Tigo El Salvador
Tigo, the commercial brand of Millicom, has been driving El Salvador’s digital evolution since 1992. With mobile coverage reaching over 95% of the country, it leads in telecommunications and digital services. Tigo offers high-speed internet, mobile, cable TV, and access to top streaming platforms. It also offers exclusive sports content through Tigo Sports. Through Tigo Business, it supports companies of all sizes with tailored connectivity solutions. And with Tigo Money, it promotes financial inclusion by delivering secure, tech-driven financial services to all Salvadorans.
Contact:
Juan David Muñoz
VPA de Estructuración y Sindicaciones
Email: [email protected]
www.bladex.com
SOURCE Banco Latinoamericano de Comercio Exterior, S.A. (Bladex)
