The European Investment Bank (EIB) is providing a SEK 1.8 billion (EUR 200 million) loan to Nordic telecommunications operator Hi3G for the upgrading and expansion of its mobile network in Sweden and Denmark.
The rollout of a new 4G/Long-Term Evolution (LTE) mobile network and the upgrading of the 3G mobile network will enable high-speed mobile broadband services to be provided to more people in both countries, the European Commission said in a press release on Friday. It will lead to increased network coverage and substantially improved data services for the entire 3G network and the new 4G/LTE network in particular (with peak download speeds of up to 130 Mbps).
Jonathan Taylor, EIB Vice-President responsible for lending in Sweden, welcomed it.
"We are very satisfied with this deal with the EIB. It will not only support our continued roll out of 4G in Sweden and Denmark but will also help us to cover less densely populated areas in Sweden with a high speed 3G network", added Peder Ramel, CEO Hi3G.
The project will contribute to the "Digital Agenda for Europe" flagship initiative through the further development and expansion of the mobile telecommunications infrastructure, a key platform for the provision of advanced mobile and broadband services, and will help to meet the target of broadband coverage at 30 Mbps or more for 100% of EU citizens by 2020.
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