Telekom Srbija is to receive a €70 million ($79.4 million) loan from the EU’s European Investment Bank (EIB) for the rollout of a 5G telecommunications network and the extension of the existing 4G network across the Republic of Serbia.
The EIB says that the loan will enable 60 percent of Serbian residents to gain access to the latest 5G network and extend the benefits of the 4G network to nearly everyone in the country.
More precisely, the EIB says its investment will finance better access to ultrafast mobile broadband, and an increase in network capacity, coverage and quality of service through the most advanced telecommunication equipment.
The EIB will finance the deployment of physical infrastructure, active radio access network equipment, the upgrade of the transmission network and expansion of fibre connectivity in over 1,000 mobile sites in Serbia.
In line with the main goals of the EU Digital Agenda, the EIB is committed to supporting Europe’s growing data traffic by investing in high-speed internet, mobile networks and cloud computing.
The EU Digital Agenda aims to deliver sustainable economic and social benefits from a digital single market based on fast and ultra-fast internet and interoperable applications.
Since 2020, the EIB has invested €195 ($221.07 million) in three projects in Serbia supporting digital transformation, a priority shared by the European Union and Serbia. This includes a €125 million ($141.8 million) investment in the digitisation of Serbian schools and small-and-medium-sized companies.