- The operation will help expand coverage and improve access to high-speed internet through mobile and fiber-optic networks.
- The project mobilizes private sector resources to support the development of digital infrastructure across the country, including rural areas.
WASHINGTON / COSTA RICA – IDB Invest announced long-term financing for Liberty Telecomunicaciones de Costa Rica LY, S.A. in the amount of up to $100 million to expand 5G network coverage and improve access to high-speed internet in the country.
The financing consists of a $65 million loan and an additional uncommitted tranche of up to $35 million, both provided by IDB Invest. It also includes an uncommitted financing component through syndicated loans or the issuance of B-Bonds, with participation from institutional investors.
The funds will enable Liberty Costa Rica to make strategic investments aimed at strengthening the country’s digital infrastructure. Planned disbursements include payment for the new spectrum granted by the Costa Rican government, deployment of the 5G Stand Alone mobile network announced in July, and expansion of the Fiber to the Home (FTTH) network. Additionally, the company’s working capital will be strengthened to accelerate the execution of these projects.
This operation marks a decisive step toward improving connectivity and competitiveness in Costa Rica by enhancing the quality of mobile and fixed broadband services, significantly expanding coverage, speed, and reliability of the mobile network—especially in rural communities with lower levels of connectivity.
Costa Rica was a regional pioneer in offering mobile services, but faces significant challenges in closing its digital gap, particularly in fixed connections. While important progress has been made, the country needs to significantly expand its digital infrastructure to reach the connectivity levels of more advanced economies. According to estimates, Costa Rica requires a 66 percent increase in fixed broadband connections to approach OECD standards. At the same time, the deployment of 5G networks is key to meeting growing data demand and the emergence of new technologies such as artificial intelligence and the Internet of Things.
This operation reflects IDB Invest’s commitment to closing the digital gap in Latin America and the Caribbean, promoting investments that not only improve technological infrastructure but also have a direct impact on people’s quality of life. By supporting Liberty Costa Rica, IDB Invest contributes to building a more robust digital ecosystem to face future challenges.
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