Orange has agreed a €700 million loan with the European Investment Bank (EIB), the long-term lending institution of the European Union owned by its Member States.
The money will be used to finance part of the deployment of Orange’s “very high-speed broadband” network in France in the Appel à Manifestation d’Intentions d’Investissements (AMII) areas.
In 2010, the French government called for letters of intent for connectivity for AMII areas – places with medium-density populations and moderate digital coverage.
The loan will address all investments made in France within the AMII zone and will help finance the completion of the deployment of Orange’s networks in the AMII areas.
The first drawdown of €350 million of the loan has already been released and the remainder will be made available during the first quarter of 2020.
Last month, Telecom Italia (TIM) secured a €350 million loan from the EIB to support its 5G network plans.