Money will help expand 5G mobile coverage across Italy by the end of 2025
Italy’s top comms provider TIM Group (Telefonia Fissa e Mobile) has secured €360 million in funding from the EIB over the next four years to develop next-gen infrastructure and 5G coverage throughout Italy
The EIB financing is 60 per cent guaranteed by Italian insurance and finance company SACE which specialises in supporting businesses and the national economic system. The loans will enable TIM to expand 5G coverage across Italy by the end of 2025 using 700 MHz bands.
The operation supports the objectives of the 2030 Digital Decade, the EU programme defining digital ambitions for the next 10 years.
The loans come under the EIB’s main areas of activity, namely developing and supporting the telecommunications network infrastructure, bridging the digital divide, meeting the targets of the Digital Agenda for Europe, and helping the EU’s most disadvantaged regions.