The European Investment Bank has approved a loan of EUR 250 million to support Ericsson’s 5G research and development activities. In a statement, Ericsson said the loan was made possible by the European Fund for Strategic Investments (EFSI), a joint initiative of the EIB and the European Commission, with the money set to be allocated for the development of hardware and software for the Radio Access Network (RAN). The company added that the majority of the R&D activities will take place in Sweden, with minor parts carried out in Ireland, Spain, Poland and other EU countries.
The objective is to complete the project by 2020 in time for the first large-scale deployments of 5G technology, said Ericsson, adding that the corresponding credit facility will mature five years after disbursement.
