The European Investment Bank (EIB) Orange has provided Orange with a €500 million loan.
According to the group, the funds will be used to partly finance its deployment of its 5G mobile network in France and strengthening of its 4G mobile network capacity in rural areas in France.
Commenting on the development, Ramon Fernandez, deputy CEO finance, performance and development of Orange, said: “We are delighted with our long-term partnership with the European Investment Bank. Thanks to this new loan, the EIB supports Orange in the deployment of its innovation strategy around 5G and its digital inclusion objectives.
“This financing will enable Orange to strengthen its leadership in the mobile network in France, whether in terms of network coverage, indoor network quality, voice quality and experience for all of its 5G and 4G customers”.
EIB VP Ambroise Fayolle added: “The financing of network infrastructure that is essential for improving connectivity in the European Union is one of the Public Bank of Europe’s investment priorities. This is why I welcome this new loan to Orange to continue the deployment of its mobile networks.
“To succeed, the digital transition requires that the whole of France be able to benefit from very good quality Internet access, including in the least densely populated rural areas, so as to enhance their attractiveness and make life easier for those who live there.”.
