ERIC - Ericsson signs funding agreements with the European Investment Bank | Benzinga
- Ericsson has signed two 7-year funding agreements with the European Investment Bank (EIB) for a total of EUR 420 million
- The loans will finance parts of Ericsson's R&D investments in wireless technology up to 2025
- The R&D investments are an important contributor into Ericsson's overall plan to reach the Net Zero target by 2040 through reduced energy consumption in the mobile networks globally
STOCKHOLM, Jan. 26, 2024 /PRNewswire/ -- Ericsson (NASDAQ:ERIC) is announcing that it has signed two agreements for funding with the European Investment Bank (EIB) for a total of EUR 420 million whereof EUR 250 million was disbursed in December 2023.
In addition to strengthening Ericsson's balance sheet and financial flexibility, the loans have been granted for the purpose of financing Ericsson's investments in research and development (R&D) in relation to enhanced wireless technology between 2023 and 2025. The R&D investments are an important contributor into Ericsson's overall plan to reach ...