Orange secures €500m EIB loan to finance 5G

Orange has secured a €500 million-euro loan from the European Investment Bank (EIB) to help finance its rollout of its 5G mobile network in France and strengthening of its 4G mobile network capacity in rural areas in the country.

Orange said the loan supports it in its strategy of innovation and enhanced connectivity throughout France. It said that the complementarity of the Orange 4G and 5G mobile networks offers the best experience quality to its retail and corporate clients in all territories.

The financing comes as Orange implements a new strategic plan dubbed ‘Lead the future’, which aims to tap its infrastructure strength to consolidate its position in quality of services and networks.

“We are delighted with our long-term partnership with the European Investment Bank. Thanks to this new loan, the EIB supports Orange in the deployment of its innovation strategy around 5G and its digital inclusion objectives. This financing will enable Orange to strengthen its leadership in the mobile network in France, whether in terms of network coverage, indoor network quality, voice quality and experience for all of its 5G and 4G customers”, said Ramon Fernandez, deputy CEO finance, performance and development of Orange.

“The financing of network infrastructure that is essential for improving connectivity in the European Union is one of the Public Bank of Europe’s investment priorities. This is why I welcome this new loan to Orange to continue the deployment of its mobile networks. To succeed, the digital transition requires that the whole of France be able to benefit from very good quality Internet access, including in the least densely populated rural areas, so as to enhance their attractiveness and make life easier for those who live there,” said EIB VP Ambroise Fayolle.