Source: eKapija | Wednesday, 15.12.2021.| 08:54
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Telekom Srbija to Get Loan of EUR 70 Million from European Investment Bank for Introduction of 5G and Expansion of 4G Network

(Photo: YouTube/screenshot/BizNet)
The European Investment Bank (EIB) will secure a loan of EUR 70 million for Telekom Srbija for the introduction of the 5G telecommunications network and the expansion of the existing 4G network throughout the Republic of Serbia, Telekom announced.

– The loan of EIB will enable 60% of the citizens of Serbia to gain access to the most modern 5G network and to have the advantages of the 4G network expand so as to be available to nearly all citizens – the press release says.

The new and advanced 5G and 4G networks, as pointed out, would enable local companies to offer advanced digital services, increase their competitiveness and productivity and accelerate the development of the private sector.

– Our investment in the expansion of the 5G and 4G mobile networks is a great contribution of Team Europe to a quicker digital transformation of the Serbian economy. This is an investment in an improved quality of life, increased competitiveness and new business opportunities for local companies. A quick and efficient digital transition and investments in information-communication technologies (ICT) and the accompanying infrastructure incite innovations and contribute to a green, sustainable, circular and climate-stable Serbia – said Lilyana Pavlova, the vice-president of EIB in charge of Serbia.

– The agreement we signed with EIB will contribute to the acceleration of the digital transformation of all sectors in the country, which is of crucial importance for the further progress and development of our economy. Also, thanks to the partnership with EIB, Telekom Srbija will provide a quicker and easier internet access to the residents of both urban and rural parts of our country, thereby securing the conditions for the acceleration of the digital transformation of the society as a whole – stated Vladimir Lucic, the CEO of Telekom Srbija.

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