Thursday, July 12, 2012

World Bank Promotes Building of Cell Phone Towers in Central America

Environmental degradation is sure to occur with the building of the towers, but don't people deserve to have a way to communicate? 

The World Bank’s private equity investment arm, IFC, is providing US$120mn in financing for Guatemalan mobile infrastructure provider Continental Towers for the building and maintenance of mobile phone towers across Central America, the former said in a release.

Continental Towers was established in Guatemala in 2008 and is the result of an alliance between Terra Towers and investment bank Credit Suisse (NYSE: CS), and has since expanded to Costa Rica, El Salvador, Honduras, and Panama.

According to this article, Continental Towers works to reduce the  cost of leasing towers, which gives smaller companies greater access to facilities, and allows larger companies to expand into remote areas which would otherwise be unprofitable.

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