£190m European Investment Bank backing for Arqiva investment
Europe’s long-term lending institution, the European Investment Bank, has agreed to provide £190m to support investment by Arqiva in a range of new critical national infrastructure projects. This includes the roll out of smart metering across the north of England and Scotland, as well as the expansion of digital radio, the rollout of the new T2 muxes and further WiFi connectivity.
Phil Moses, CFO of Arqiva, said: “Arqiva is central to the way people and businesses use technology every day. Reliability and security of our infrastructure is core to our ability to meet the increasing demands for this digital connectivity. The investment by the European Investment Bank affords us this long-term commitment to connectivity for everyone.”
Jonathan Taylor, European Investment Bank vice president added: “Continued investment in innovative communications technology is essential to improving connectivity, digital literacy, and consumer choice. The European Investment Bank recognises the diverse benefits of investment by Arqiva in the latest transmission equipment that will help reduce energy bills through national use of smart meters and enable dedicated communications for specialist users. This investment builds on the European Investment Bank’s past engagement to support telecommunications across Europe.”
Over the last five years the European Investment Bank has provided more than €2bn in long-term loans to support investment in improved communications infrastructure across Europe. This included communications related investment covering wireless broadband, fixed and mobile telecommunications, research and development and information technology.
