WASHINGTON, DC -- The following information was released by the Inter-American Investment Corporation (IIC):
The Inter-American Investment Corporation (IIC) and Access Haiti, S.A. signed an agreement for a loan of up to US$3.5 million. Access Haiti S.A. will use the proceeds to upgrade its telecommunications network, thereby expanding internet service coverage to reach new cities and the countryside in Haiti. The loan will also be used to purchase, install, and operate wireless telephone and digital television services, improve the company's core network, and upgrade its ancillary equipment.
According to Javier Hernandez, IIC Investment Officer in charge of the operation, "With this operation the IIC is supporting a key sector of Haiti's economy. This transaction is expected to contribute to the Government of Haiti's strategy of boosting foreign investment, in particular by promoting investment in infrastructure to enhance the country's business climate and improve education. The operation will also support internet-based commerce and enable companies to provide e-commerce services to the government."
Allen Bayard, CEO of Access Haiti said, "We are very pleased to partner with a leading multilateral financial institution like the IIC, which is committed to the development of the private sector in Haiti." Christopher Taylor, CEO of parent company Tropical Telecom Ltd. added, "Access Haiti has been aggressively investing in new technology like mobile WiMAX, VoIP, and digital TV over the past several years and this loan will allow us to accelerate the launch of world-class services in more regions of Haiti."
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