Telefonica Deutschland has secured a €450 million loan from the European Investment Bank, to help it roll out 5G and boost LTE penetration levels across Germany.
The loan is repayable over eight years and will help Telefonica Deutschland invest in improving its carbon footprint and other green credentials, whilst simultaneously boosting connectivity in the country.
“5G, the next-generation mobile standard, is fast approaching,” Ambroise Fayolle, EIB vice-president, in charge of innovation and operations in Germany, told journalists from Smart Energy International.
“It will produce higher speeds and improve mass connectivity, and both citizens and the economy will also benefit from superfast, reliable networks. It will enormously improve existing wireless applications and open up completely new areas of business. That is the basis for innovation and growth in Europe, an objective that along with climate action is one of the EU bank's top priorities,” he said.
Telefonica Deutschland has over 45 million mobile network subscribers in Germany, along with 4.4 million fixed line customers, bringing its total footprint to 50.1 million.
Late last year, the company announced that it had secured a €750 million financial package that was linked to its ESG sustainability rating.
“Once again, Telefónica Deutschland is a pioneer in the use of innovative financial products in the industry. By linking financing costs to our ESG rating, we underscore our efforts to make sustainable management a central criteria in all our corporate decisions," says Markus Rolle, chief financial officer and member of the Management Board of Telefónica Deutschland Holding AG.