LMT and EIB Sign EUR 50 Million Financing Agreement for 5G Rollout in Latvia

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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Also Read: LMT Expands 5G Network, Covering 70 Percent of Latvia’s Population

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.

Also Read: Latvian Telcos LMT and Tele2 Secure Additional 3.5 GHz Frequencies

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.”