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Nokia has announced securing €500 million in funding from the European Investment Bank (EIB) to support its research and development (R&D) of 5G technology, with the loan backed under the European Fund for Strategic Investments (EFSI).
According to Nokia CFO Kristian Pullola, the EIB “shares our view of the revolutionary nature of 5G”, and the loan will allow Nokia to continue its momentum in developing new networking technologies.
“5G is happening fast, faster than most people even expected. It’s anticipated that it will enable entirely new business cases, while dramatically enhancing existing wireless applications,” EIB VP Alexander Stubb said. “I think bringing 5G to the market will definitely improve people’s lives.”
With EFSI part of Europe’s Juncker Plan, European Commission
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