The European Investment Bank (EIB), assisted in part by a 60% guarantee from SACE (Italian export credit agency), has agreed to provide Telecom Italia (TIM) with a €360 million loan.
It will be used by the telco to expand 5G coverage of the population and national territory by the end of 2025, also thanks to the use of the 700 MHz frequency band.
Furthermore, the loan will give TIM access to a debt instrument at more favourable conditions than those offered on the banking bond market.
Between 2019 and 2023, the EIB has provided loans totaling over €1 billion for TIM projects. They fall within the main sectors of activity of the EIB, namely the development and support of telecommunications infrastructure networks, reduction of the digital divide, achievement of the objectives of the European Digital Agenda and commitment for the areas less advantaged areas of the EU.
In 2022, SACE, as part of the Italian Guarantee and together with a pool of financial institutions, supported TIM by guaranteeing a €2 billion loan to support the investments envisaged in Italy by the group’s industrial plan.
