€200 million loan from EIB for Superfast Broadband in France
Staff Writer |
Ambroise Fayolle, vice-president of the EIB and Iliad's founder Xavier Niel announced €200 million of financing to support the rollout of Superfast Broadband (FTTH or "fibre to the home") networks in France.
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This new loan means that the EIB has provided €550 million of support for the Iliad group's development and innovation strategy in France since 2009.
The loan is an ideal example of European co-operation and is also supported by the European Fund for Strategic Investments (EFSI), which is a central part of the Investment Plan for Europe, more commonly known as the "Juncker Plan."
The Iliad group will benefit from particularly attractive financial terms that are well suited to the sector and type of investment.
The EIB's €200 million loan is intended to support the rollout of a fibre-optic network using FTTH access technology across France between now and 2018.
By end 2018, FTTH access through Free's services will be available to 9 million connectible lines in Very Densely Populated Areas (ZTD) and in areas of medium population density (ZMD).
As well as improving service quality, the project will also have very positive economic consequences for the regions concerned, particularly in terms of productivity and job creation.
The loan is entirely consistent with the European Union's 2020 strategy and the digital agenda for Europe, which is based on the rollout of broadband internet.
A key objective of the strategy is for all European citizens to have access to 30Mbps broadband services, and also for 50% of European households to have access to services offering speeds of over 100Mbps.
In 2016, the EIB invested over €1 billion in developing Superfast Broadband in France. ■
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