In Estonia, state-owned utility Eesti Energia has won a €70 million ($79 million) loan from the European Investment Bank (EIB) to deploy a fibre access network.
The utility has promised to provide ‘Very High Capacity’ broadband services with download speeds of 1Gb/ps to 266,000 households.
More than 47,000 of the households are in areas with insufficient connectivity while about 219 000 are in areas with limited broadband service offerings.
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The network is expected to be finished by 2023.
Thomas Östros, the vice president of EIB, said: “Estonia has already made name for itself as a very digitalised country and we are happy to help push the boundaries of broadband internet access in the country even further. The EIB has an excellent and long-standing partnership with Eesti Energia and we are glad to be able to support them in this venture.”
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This is the seventh loan agreement to be signed between Eesti Energia and EIB since 2004. Following the latest agreement signed in December 2019 for €175 million ($197 million), the EIB has provided the company with some €600 million ($677 million) in loans since 2004.