QMC Regional Facility (IDBI-12830-02)

Countries
  • Colombia
  • Mexico
  • Peru
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • IDB Invest (IDBI)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
B
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Mar 18, 2021
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
QMC Telecom
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Communications
  • Infrastructure
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Guarantee
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 45.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Primary Source

Original disclosure @ IDBI website

Updated in EWS Aug 6, 2021


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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

The proposed transaction is a long-term, guaranteed financing of up to US$45 million local currency equivalents to support the capital investment in the shared telecommunications infrastructure by QMC Telecom International Holdings, LLC ("QMC") and the needs of working capital in Mexico, Colombia and Peru ("IDB Invest Financing"). QMC's subsidiaries in each jurisdiction will be the borrower or guarantor of the IDB Invest Financing.

QMC is a leading independent owner, developer and operator of wireless communications infrastructure assets in Latin America. QMC owns and operates more than 2,400 wireless infrastructure sites. QMC has operations in Brazil, Colombia, Mexico, Peru and the United States (including Puerto Rico), expanding its reach to other countries in the region. QMC supports the operation of mobile network operators to increase the capacity and coverage of mobile broadband, which is especially critical in the context of the COVID-19 pandemic, where broadband connectivity is playing a key role.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.
Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - QMC Telecom International Holdings LLC Investor Communications

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.


For questions about the Project please contact to:

Name:                  Ricardo Zubieta

Title:                     CFO

Telephone:          +1-917-796-6437

E-mail:                  rzubieta@qmctelecom.com

 

For questions and comments to IDB Invest, please contact:

Name:               IDB Invest Communication Group

E-mail:              requestinformation@idbinvest.org

 

In addition, affected communities can access IDB Invest’s Independent Consultation and Investigation Mechanism (ICIM) as follows:

Telephone:        +1 (202) 623-3952

Fax number:      +1 (202) 312-4057

Address:             1300 New York Ave. NW Washington, DC. USA. 20577

E-mail:               mecanismo@iadb.org or MICI@iadb.org

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How it works