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Proparco and DEG renew their support for Torrecom's expansion of digital infrastructure across Latin America

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Proparco and DEG have participated in a new $140 million long-term financing package for Torrecom Partners LP, a leading independent telecom tower operator in Latin America. This is the fifth financing of Proparco to Torrecom since 2015, demonstrating a longstanding partnership to support the expansion of digital infrastructure, connectivity, and competitiveness across the region.

This new credit facility is a key component of Torrecom’s ambitious development plan for the next years in Central America and the Andean region where it is experiencing rapid growth, strengthening infrastructure and expanding access to reliable mobile connectivity. The financing will support the growth of Torrecom's portfolio to more than 2,500 telecommunications towers across Chile, Colombia, Ecuador, El Salvador, Guatemala, Mexico, Nicaragua Panama, Paraguay, and Peru, directly contributing to increase the reach and the quality of mobile connectivity in the entire region. 

This initiative brings together the three existing DFIs Lenders (Proparco, DEG and IDB-Invest) and three other international investors, including Allianz Credit Emerging Markets Fund, ILX Fund, and Banco de América Central (BAC). By mobilizing long-term private capital alongside development finance institutions, the transaction demonstrates the importance of partnerships in addressing Latin America's digital infrastructure needs.

The investment will contribute to improve network efficiency through increased tower sharing and support the deployment of next-generation mobile technologies, including 5G. By promoting infrastructure co-location, the project is expected to lower deployment costs, optimize the use of existing assets, and enable mobile network operators to accelerate investment in network modernization and service quality.

Although mobile broadband coverage has expanded significantly across Latin America, investment remains necessary to meet rapidly growing data demand and accelerate the deployment of 5G networks. Torrecom's expansion will help address these needs by providing the shared infrastructure required to improve network coverage, capacity, and efficiency.

The transaction reflects Proparco's and DEG's commitment to financing high-impact digital infrastructure that promotes sustainable economic development, enhances regional competitiveness, and expands access to quality digital services throughout Latin America.

This is a new chapter in our longstanding partnership with Torrecom. We are happy to welcome private investors alongside de pool of DFIs we have been bringing together on the last transaction.

Anne Gautier

  • Head of Energy & Digital for Latin America and Asia at Proparco

Working with Proparco, DEG, and IDB over the years has been a tremendous experience for Torrecom. The addition of long-term private financing creates a broader facility, enabling us to continue delivering infrastructure to our carrier partners so they can provide essential wireless services. Together we are BRIGHTER, BETTER AND BIGGER than ever.

Maria Scotti

  • CEO of Torrecom

We are pleased to continue our longstanding cooperation with Torrecom and support their continued expansion across Latin America. The addition of private investors marks an important next step for the company and in our collaboration with Proparco and IDB Invest to mobilize capital for critical digital infrastructure.

Franziska Sartoris

  • Manager for Infrastructure & Energy in Latin America at DEG