New Financing Line for ICT Sector SMEs

The Argentine Communications Entity (ENACOM) published Resolution 1191/2025 in the Official Gazette, approving a new financing line aimed at providers of Information and Communication Technologies (ICT) services. The Resolution creates the line Participation in Debt Instruments in the Capital Market for ICT Service Providers and allocates it a budget of ARS 25,000,000,000 to promote the modernization, improvement, and expansion of ICT infrastructure, especially in areas with low or no coverage. This line will be accessible to ICT service licensees that can demonstrate effective service provision over the past two years, excluding those that provide Mobile Communications Services (SCM).

The financing will be executed through specific projects focused on:

1. Renewal and expansion of last-mile networks.
2. Interconnection with wholesale service networks.
3. Deployment of connectivity infrastructure in service areas to improve accessibility and service quality.
4. New deployments in uncovered areas.
5. Investment in artificial intelligence applied to ICT service provision.

Regarding the execution mechanism, the regulation establishes that:

• ENACOM will enter into direct agreements with licensees to acquire debt instruments in accordance with the regulations of the Argentine Securities Commission (CNV).
• All instruments must include a primary bidding or auction mechanism and a prior credit risk analysis with an Investment Grade rating, issued by an entity duly registered with the CNV to perform such activity.
• Priority will be given to subscribing secured notes, especially those that comply with the guidelines for issuing social, green, and sustainable securities.
• ENACOM’s maximum participation will be 80% of the project for sustainable notes, and 70% for other cases.

ENACOM will issue an eligibility certificate after the technical and economic evaluation of the submitted projects. To obtain this certificate, applicants must:

• Align with the objectives of the Universal Service and the guidelines of the Federal Critical Communications Infrastructure Plan.
• Prove their status as a licensed and registered ICT provider.
• Demonstrate two years of effective service provision.
• Submit the information required by CNC Resolutions 2220/12 and/or ENACOM Resolutions 3407/17 and 3408/17,and their amendments.
• Allocate funds exclusively to eligible projects according to the established criteria.
• Have no outstanding debts with ENACOM or the Federal Government.

Project may be submitted as of September 26, 2025, through the Remote  Procedure Platform (TAD), by uploading three folders: administrative, technical, and economic.

Finally, ENACOM ordered the Federal Directorate of Licenses, Authorizations, and Registries to draft the model agreement for subscribing to debt instruments under this financing line.