IIC to loan up to US$3.5mn for Access Haiti to expand internet coverage

Haitian telecoms provider Access Haiti has signed a loan agreement for up to US$3.5mn from the Inter-American Investment Corporation ( IIC) to enable the former to expand internet coverage in the country, according to a statement from the IIC. Access Haiti will use the funds to upgrade its telecoms network, thus expanding internet service coverage in Haiti to reach new cities and the countryside. The loan will also be used to purchase, install and operate wireless telephone and digital television services. Additionally, funds will go toward improving the company's core network and upgrading its ancillary equipment. "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," according to the IIC investment officer in charge of the operation, Javier Hernández. The project will also support internet-based commerce and enable companies to provide e-commerce services to the government, Hernández said. The CEO of Access Haiti parent company Tropical Telecom, Christopher Taylor, said that over the past several years, the service provider has been investing in new technologies including WiMax, VoIP and digital television. According to Taylor, the loan will accelerate the launch of services in more of Haiti's regions. The IIC is a multilateral financial institution and a member of the Inter-American Development Bank ( IDB) Group.