The Greek incumbent OTE has signed a €150 million loan agreement with the European Bank for Reconstruction and Development (EBRD).
It is the first in the country in the digital investments pillar, with the use of loan funds from the National Recovery and Resilience Facility ‘Greece 2.0’, financed by the European Union – NextGenerationEU.
The funds will contribute to the FTTH network rollout by OTE to around 371,000 households in the Greek regions, under its investment plan exceeding €3 billion by 2027.
The loan has an eight-year duration with repayment at maturity and it will finance a project of €187.5 million. Out of the €150 million that OTE will receive, €93.75 million are financed by the European Union’s Recovery and Resilience Facility, channelled through the Greek Ministry of Finance, while €56.25 million are financed by the EBRD. €37.5 million will be covered by OTE’s own funds.