EIB grants Vodafone new loan payment for mobile broadband deployment

Newsroom 08/03/2013 | 10:53

The Vodafone telecommunication group will receive the last EUR 100 million financing installment from the European Investment Bank for the roll-out of mobile broadband services in Turkey and Romania.

The installment is part of a larger loan of EUR 400 million, of which the first two financing installments were contracted at the end of 2011.

According to information on the EIB website, Vodafone Telekomunikasyon from Turkey will receive EUR 250 million while Vodafone Romania will receive EUR 150 million investment in total.

The new equipment is supposed to enable high speed wireless broadband services. The investments should help to increase the quality and also the population coverage of mobile broadband services in both countries, according to the EIB.

Vodafone was the first company to introduce 4G in Romania in November 2012. Currently, Vodafone’s LTE network covers ten cities: Arad, Bacau, Brasov, Bucharest, Cluj, Constanta, Craiova, Iasi, Galati and Timisoara. In January, the company upgraded the 4G services it offers to a speed of 100 Mbps and announced the launch of new post-pay offers.

Otilia Haraga

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