(IN BRIEF) Ericsson, a prominent Swedish telecommunications company, has secured a new EUR 100 million loan from the Nordic Investment Bank (NIB) to bolster its research and development efforts aimed at enhancing wireless technology efficiency. This loan, NIB’s second for Ericsson’s R&D initiatives between 2023 and 2025, supports Ericsson’s commitment to achieving net-zero targets by 2040 by reducing energy consumption across global mobile networks. With NIB’s total financing to Ericsson now exceeding EUR 800 million, the partnership underscores Ericsson’s pivotal role in advancing technology and sustainability in the Nordic-Baltic region and beyond.
(PRESS RELEASE) HELSINKI, 12-Jul-2024 — /EuropaWire/ — Nordic Investment Bank (NIB) has announced a new USD 108.16 million (EUR 100 million) loan agreement with Ericsson, the Swedish telecommunications giant, aimed at advancing enhanced wireless technology. This marks NIB’s second loan supporting Ericsson’s research and development (R&D) efforts from 2023 to 2025, emphasizing energy efficiency improvements across global mobile networks to achieve net-zero targets by 2040.
With this latest financing, NIB’s total support to Ericsson exceeds EUR 800 million since their partnership began in 1979, focusing primarily on R&D initiatives. André Küüsvek, President and CEO of NIB, highlighted Ericsson’s role as a key technology leader in the Nordic-Baltic region, contributing significantly to employment and productivity through ongoing advancements in wireless technology efficiency.
Ericsson, with nearly 100,000 employees worldwide, specializes in providing telecommunications infrastructure, software, and services. In 2023 alone, the company allocated SEK 50.7 billion (approximately EUR 4.5 billion) to R&D, underscoring its commitment to innovation and sustainability in the ICT sector.
Tore Emanuelsson
Senior Banker, Connectivity and Consumer
+358 10 618 0244
Tore.Emanuelsson@nib.int
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First published in this link of EuropaWIRE.
