For the development of network infrastructure in Italy, the European Investment Bank (EIB) has approved two loans totalling $422 million for TIM’s new Beyond Connectivity plan. This includes $241 million fund to bolster the fixed line network and data centers.
- The funds will support investments planned under TIM’s new Beyond Connectivity plan, and aiming to strengthen the backbone and regional fibre optic networks (including the IP backbone) to address the strong growth in traffic from fixed and mobile access networks and data centers.
- A second 120 million loan in 2021 will help develop state-of-the-art 5G mobile phone infrastructure, and comes in addition to an initial 350 million signed in 2019 to provide overall support of 470 million for this project.
The major supports and loans by European Investment Bank are featured below:
May 2021: For the strengthening of mid-size Finnish companies, the European Investment Bank has signed a guarantee agreement with OP Bank in Finland to allow OP to bring new financing worth $361 million.
March 2021: For establishment of a more efficient and reliable public transit system, the European Investment Bank (EIB) provides $47million to Bosnia and Herzegovina. The fund will support the reconstruction of the urban transport network in the Canton of Sarajevo.
March 2021: For COVID-19 resilience, EIB Group supports Romania with $962 million. The new financing from the European Investment Bank will benefit higher education, water distribution, energy efficiency and private sector investment across Romania.
March 2021: To boost digital transportation the European Investment Bank (EIB) and the Société Nationale des Autoroutes du Maroc (ADM), responsible for building, operating and maintaining Morocco’s highways, signed a financing contract of USD 103 million.
Feb 2021: To accelerate research in plant protein and biosource materials, the European Investment Bank (EIB) had finalized a USD 60 million loan to Avril group in France. The finance helps to innovative projects in the fields of plant proteins and chemistry.
The European Investment Bank Group, is an international financial institution, headquartered in Luxembourg. It is a bank of European Union. The EIB Group has two parts- the European Investment Bank(EIB) and the European Investment Fund(EIF). The EIB is the lending arm of 27 members European Union. The EIF support SMEs, and it work through financial intermediaries in the Member States and in partnership with national promotional banks. EIB helps in creating jobs and improving lives for EU citizens and also helps people in developing countries.