Telecoms infrastructure company Torrecom has secured a $140 million financing package from IDB to support its digital infrastructure expansion across Latin America.

The funding will support Latam-focused Torrecom's expansion across the region to more than 2,550 towers in Chile, Colombia, Ecuador, El Salvador, Guatemala, Mexico, Panama, Paraguay, and Peru.

This financing builds on a $70m loan agreement Torrecom secured in 2023 via three Development Finance Institutions (DFIs): IDB Invest, Proparco, and DEG.

The latest financing package has been led by IDB Invest and includes five international investors comprising development finance institutions, funds, and commercial banks: DEG, Proparco, Allianz Credit Emerging Markets Fund, ILX Fund, and BAC.

According to IDB Invest, this funding will improve network efficiency by promoting tower co-location and supporting the deployment of next-generation technologies such as 5G.

IDB notes that this will reduce costs, optimize resource use, and enable mobile network operators to focus investment on core network upgrades.

“Expanding access to robust digital infrastructure is key to driving productivity and unlocking new economic opportunities across Latin America and the Caribbean. Initiatives like this help accelerate innovation, strengthen competitiveness, and support sustained growth in the region,” said Ilan Goldfajn, president of the IDB Group.

“At Torrecom, we are committed to expanding the wireless infrastructure needed to strengthen connectivity and support the continued growth of digital services across Latin America. We see significant opportunities to extend infrastructure into markets where demand for connectivity continues to grow, and we look forward to working with IDB Invest to assist in advancing more accessible infrastructure in the region,” added Maria Scotti, CEO of Torrecom.

Founded in 2010, Torrecom currently owns and operates a tower portfolio of more than 1,700 wireless infrastructure sites across Latin American markets.