Orange Telecom, a French Multinational Telecommunications company and one of the largest telecom operators in Europe, has entered into a loan agreement with the European Investment Bank (EIB) for a sum of 500 million euros to partly finance Orange's deployment of 5G Network and strengthen its 4G Mobile network capacity in rural areas of France. The loan was disbursed on March 1st.
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Loan by EIB
This loan by EIB supports Orange in its strategy of responsible innovation and enhanced connectivity throughout France. Orange says its 4G and 5G Networks work in a complementary nature to offer the best experience quality to its consumer and business clients across the region.
According to the statement, this financing is globally aligned with the roadmap of Orange's new strategic plan: Lead the future, which the telco unveiled on February 16, 2023. Orange's lead the future is built on four pillars, which according to the company are:
Pillar 1: Capitalising on our core business, to reinforce our excellence and service quality
Pillar 2: Capitalising on infrastructure in all the countries where the Group is active
Pillar 3: Transforming Orange Business Services to accelerate growth in the Enterprise segment and strengthen Orange's position in cybersecurity
Pillar 4: Continuing to grow in Africa and the Middle East
The pillars focus on driving Fibre-to-the-home (FTTH) rollout, capitalising on infrastructure across all the countries the Group operates in, and Rebranding Orange Business Services while focusing on expanding its presence in Africa and the Middle East.
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EIB is long-term Partner
The financing also aims to capitalise on the Group's infrastructures to consolidate Orange's leading position in terms of quality of services and networks. European Investment Bank is a long-term partner of Orange, and this new loan supports Orange in deploying its strategy around 5G and digital inclusion objectives.
The new loan from European Investment Bank (EIB) comes weeks after the Operator revealed its growth strategy covering the period to 2025. According to the statement, Financing of Network infrastructure essential for improving connectivity in the EU is one of the Bank's investment priorities, and so is the reason for this new loan.
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This financing will enable Orange to strengthen its leadership in the mobile network in France in terms of network coverage, indoor network quality, voice quality and experience for all of its 5G and 4G customers.