3 Jul 2020
EUR 60 million
Financial institutions and SMEs
NIB and the Swedish telecom company Ericsson have signed a six-year loan agreement totalling USD 150 million (EUR 135 million) for co-financing the development of 5G mobile technology.
The loan will co-finance Ericsson’s research and development costs during 2020-2022. The programme focuses on the continuing development of fifth generation (5G) cellular technology for telecom networks and its global roll-out.
5G is the next mobile communications standard, and supports device-to-device as well as massive machine communication. Ericsson focuses on cost efficiency in leveraging the speed, latency, and security characteristics of 5G. The main part of the R&D activities will be carried out in Sweden, as well as in other European countries.
“We are pleased to continue our cooperation with Ericsson to finance the development of mobile communications technology. 5G is taking off faster than was originally anticipated, especially as a capacity enhancer in metropolitan areas. The investment will improve networks and open up new business opportunities in NIB’s member countries”, says Henrik Normann, NIB President & CEO.
Ericsson is a global leader in communications technology and services with headquarters in Stockholm, Sweden. The company consists of more than 95,000 employees who provide customers in 180 countries with solutions and services. Net sales in 2018 were SEK 210.8 billion. The Ericsson stock is listed on Nasdaq Stockholm and on NASDAQ in New York. Read more on www.ericsson.com
NIB is an international financial institution owned by eight member countries: Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway and Sweden. The Bank finances private and public projects in and outside the member countries. NIB has the highest possible credit rating, AAA/Aaa, with the leading rating agencies Standard & Poor’s and Moody’s.
For further information, please contact
Mr Tore Emanuelsson, Senior Manager, Origination, at +358 10 618 0244, email@example.com
Ms Lisa-Maria Altenberger, Communications Unit, at +358 10 618 0234, firstname.lastname@example.org