ANNOUNCEMENT 24 Oct 2018
In October 2018, the European Investment Bank (EIB) signed a financing agreement with DNA OYJ to support its project concerning expanding and upgrading the 4G mobile broadband network as well as the initial deployment of the 5G network.
NUMBER OF INTERVENTIONS
The European Investment Bank, Financed Projects, DNA 4G & 5G NETWORK EXPANSION: http://www.eib.org/en/projects/loan/loan/20180159
The European Investment Bank, Project summary, DNA 4G & 5G NETWORK EXPANSION: http://www.eib.org/en/projects/pipelines/pipeline/20180159
The European Investment Bank, press release of 25 October 2018, European backing for DNA’s 4G & 5G investments in Finland: http://www.eib.org/en/infocentre/press/releases/all/2018/2018-268-european-backing-for-dnas-4g-5g-investments-in-finland
The financing agreement between the European Investment Bank (EIB) and DNA OYJ has a total approved value of EUR 90 million (approx. USD 102.5 million). Under the financing agreement, the EIB and DNA OYJ signed a EUR 40 million loan agreement on 24 October 2018. On 7 February 2019, a second loan agreement was signed for the remaining EUR 50 million.
The loans will support the company's project to expand and upgrade its 4G broadband network as well as deploy its 5G network.
According to the EIB, the project seeks to: "accommodate the expected high growth of data traffic that comes with the favourable mobile pricing plans with unlimited data volume marketed by the promoter (ed. DNA OYJ). It includes investments in the radio access network, transmission, core network and related IT systems."
In this context, the EIB Vice-President Ambroise Fayolle stated: "This further investment shows not only that Finland is a frontrunner when it comes to telecom technology, but also that the EU Bank takes its mission to support European innovation very seriously"
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