The European Investment Bank (EIB) and Latvijas Mobilais Telefons SIA (LMT) have signed an agreement to finance the rollout of 5G technology in Latvia. In an official release, the EIB stated that the EUR 50 million loan will enable a total investment of EUR 101 million in telecoms infrastructure in the country and help LMT deliver advanced 5G services nationwide, providing more users with better, secure access to ultrafast broadband services.
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Network Expansion
The financing will support the expansion and technological upgrade of LMT's mobile network, creating a Very High Capacity Network (VHCN) across Latvia in both urban and rural areas, according to the official release.
Support 5G SA Upgrade
As part of the project, LMT will deploy 150 5G sites in urban areas and 690 5G sites across the country. The financing will also support the upgrade of the company's core network to 5G standalone technology (5G SA), along with investments in service platforms, business, and operations support systems.
EIB noted that the project aligns with the European Union's Digital Compass target of achieving 5G infrastructure access in all populated areas by 2030 and promotes investment in telecoms infrastructure in cohesion regions.
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Commenting on the financing agreement, LMT said, "We are honored that we can begin a new stage of infrastructure development by providing public administration, the commercial sector, and individual users with secure, fast, and quality data services transmission, and by promoting all the extensive opportunities that 5G now provides."
Decommission 3G
According to the official release, the financial support will also be used to expand the access network, decommission the 3G network, and ensure a seamless transition to 5G. The project will prioritise investments in cybersecurity implementation and development to ensure a robust and secure 5G infrastructure, said EIB.
