CIFI, a non-bank financial institution with more than 15 years of experience in financing infrastructure and energy projects in Latin America and the Caribbean, lent US$ 13.5 million dollars out of the US$ 58.5 million dollars given by BID Invest to Phoenix Tower International, in order to strengthen the telecommunications infrastructure market in Bolivia.
Due to this loan, PTI will purchase more than existing 600 electric towers and it will build new ones according to national mobile operators’ requirements, becoming the first independent telecommunication towers provider in the country. The towers were sold by NuevaTel, the third national mobile operator, which is part of the Canadian company Trilogy.
With this new project CIFI adds three deals within the telecommunications sector in the last year. These loans represent a total amount of US$ 37.5 million dollars benefitting users in Brazil, Argentina and Bolivia. The deal is an important milestone for the company, reflecting its tendency to diversify sectors and to develop in multiple industries.