Proximus Secures EUR400 million Loan to Accelerate FTTH and FTTB Rollout in Belgium

Proximus Secures EUR400 million Loan to Accelerate FTTH and FTTB Rollout in Belgium Image Credit: Proximus

Proximus has secured a EUR 400m loan from The European Investment Bank (EIB) for the further roll-out and upgrading of its fixed broadband infrastructure in Belgium, mainly in the acceleration of Fiber-to-the-Home (FTTH) and Fiber-to-the-Business (FTTB).

In the framework of its Fiber for Belgium project, Proximus announced its intention to invest EUR 3 billion over 10 years to accelerate the roll-out of Fiber in Belgium, with the ambition to bring a future-proof next generation network to the customers.

The objective is to reach 85% of businesses and bring Fiber to the centers of cities and communes in Belgium. In February 2018, more than 6,000 enterprises were already connected to Fiber, while a total of 24 cities and communes are in roll-out or planned for short-term implementation.

The European Investment Bank is supporting the roll-out of high-speed Internet in the context of the overarching "Digital Agenda for Europe 2020" strategy, which aims to promote smart growth and develop a knowledge and innovation-based economy.

Dominique Leroy, CEO, Proximus
Through the EIB loan, we have gained a cost-effective long-term, reliable financing partner for one of our most important strategic projects.

Sandrine Dufour, CFO, Proximus 
In addition, the cooperation with the EIB will help to optimise our capital structure by lengthening the average duration of our debt portfolio as well as further diversifying our funding sources at attractive interest rates.

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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