Proparco finances further Digicel Haiti rollout

29 Jun 2006

Pan-Carribean mobile operator Digicel announced yesterday that it is investing a further USD22 million in its GSM rollout in Haiti through a credit agreement with Proparco, the private sector financing arm of the French development agency Agence Française de Développement (AFD). Proparco is the main lender for the project, which is also being financed by IFC (part of the World Bank Group), FMO (Netherlands), EDC (Canada), Bank of Nova Scotia (Canada) and the arranging bank, Citibank. The total debt financing amounts to USD64 million. Of the Proparco USD22 million loan, USD10 million was drawn from the European Financing Partners (EFP) mechanism created by several European Financial Development Institutions and EIB. Digicel has experienced rapid take-up of its GSM services since its launch last month, and aims to provide network access to ‘hundreds of thousands’ of new subscribers over the next few years, boosting cellular penetration in the country, which stood at around 6% at the end of March 2006.

Haiti, Digicel Haiti