Cabo Telecom III (IFC-41688)

Countries
  • Brazil
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
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
Dec 20, 2018
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
Cabo Servicos de Telecomunicacoes Ltda
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Communications
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 120.00 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.
Project Cost (USD)
$ 282.00 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.
Bank Documents
Campaign Documents
Primary Source

Original disclosure @ IFC website

Updated in EWS Nov 23, 2018

Disclosed by Bank Nov 13, 2018

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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.

Triple Play Participações S.A. (“Company” or “Cabo”) is a holding company that currently owns two leading independent triple play (cable TV, telephony and broadband) service providers in the northeast Brazil cities of Natal and Fortaleza: Cabo Serviços de Telecomunicações Ltda. and Videomar Rede Nordeste S.A., respectively. The IFC financing will support Cabo to fund the service expansion investment plans to accelerate the growth of its footprint (the “Project”).

People Affected By This Project
People Affected By This Project refers to the communities of people likely to be affected positively or negatively by a project.

1. Increase coverage: Promote broadband coverage penetration in frontier regions of the country (Northeast and North), thereby supporting regional economic development, expanding access to information, which in turn will transform the way private and public sectors operate and how services are delivered in the region.
2. Increase penetration of broadband services is expected to drive economic growth: Current fixed broadband penetration in the Northeastern region of Brazil is substantially below the rest of the country. Greater access to broadband is expected to contribute to economic growth by helping to bridge the supply gap, improving labor productivity and generating economic efficiencies.
3. Promote innovation: Broadband spurs innovation, promoting new business models across several sectors including education, health, e-commerce, e-Government, etc.
4. Enhance competition: Cabo - with a fully digital triple play offering - will promote convergence, reduce prices and improve service and availability of content. This will consequently help reduce the inter and intra-country digital divide by increasing competition and, particularly, promoting lower tariffs.

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
- - - - Cabo Servicos de Telecomunicacoes Ltda Client -

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.

ACCOUNTABILITY MECHANISM OF IFC

The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/

How it works

How it works