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Nokia Signs €500 million Loan Deal with EU to Bolster 5G R&D

Nokia Signs €500 million Loan Deal with EU to Bolster 5G R&D Image Credit: Nokia

Nokia has signed a €500 million loan transaction with the European Investment Bank (EIB) to further accelerate its research and development of 5G technology.

This follows a €250 million loan deal by EIB with Ericsson for the same reason earlier this year. 

EIB supports key European technology providers that invests heavily in research, development and innovation (RDI) in an area which can produce enabling technologies for innovation and growth in Europe.

Nokia’s end-to-end network proposition goes from the radio network to the internet protocol (IP) and optical networks for transmission, the packet core network, service platforms and all the software and services associated with the whole system. In essence, Nokia’s portfolio covers all the needs of a telecom operator that wishes to provide fully converged fixed-mobile communications services critical for the era of 5G.

The loan, which extends Nokia’s debt maturity profile, has an average maturity of approximately five years after disbursement, which can take place at any time during the next 18 months.

Alexander Stubb, VP EIB
5G is happening fast, faster than most people even expected. It’s anticipated that it will enable entirely new business cases, while dramatically enhancing existing wireless applications. I think bringing 5G to the market will definitely improve people’s lives, as the motto for the EIB’s 60th anniversary states.

Kristian Pullola, CFO, Nokia
This financing bolsters our 5G research efforts and continues the broader momentum we have already seen this year in terms of customer wins and development firsts, supporting our relentless drive to be a true leader in 5G – end-to-end.

Author

Ray is a news editor at The Fast Mode, bringing with him more than 10 years of experience in the wireless industry.

For tips and feedback, email Ray at ray.sharma(at)thefastmode.com, or reach him on LinkedIn @raysharma10, Facebook @1RaySharma

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