The European Investment Bank (EIB) is providing Telefónica Deutschland GmbH & Co. OHG a EUR 450m loan for the further development and upgrading of mobile network infrastructure. The aim of the investment is to improve network quality and geographical coverage in order to expand the innovative broadband services available to customers in Germany. This is the first project that the EIB is undertaking with Telefónica Deutschland, which two years ago took over its competitor E-Plus to become one of Germany's three leading telecommunications operators.

EIB Vice-President Ambroise Fayolle stated: “We are delighted to be able to support Germany’s broadband offensive with this loan. In particular, the continued roll-out of mobile networks with 4G technology is imperative for the transmission of broadband data services. If we wish to take full advantage of economic potential in Germany, we need reliable and efficient mobile networks for the transfer of large amounts of data. We therefore look forward to working together with Telefónica in Germany. The development of high-performance infrastructure in the telecommunications sector is one of the EU bank's core objectives."

Telefónica Deutschland's Corporate Finance Director Albert Graf stressed the importance of the new credit line for the group: “Through the EIB loan, we have a gained a long-term oriented, reliable financing partner for one of our most important strategic projects, the full-coverage expansion of the mobile broadband network. In addition, the cooperation with the EIB will help to optimise our capital structure and further diversify our funding base.”

The European Investment Bank is supporting the roll-out of high-speed Internet in the context of the overarching "Digital Agenda for Europe 2020" strategy, which aims to promote smart growth and develop a knowledge and innovation-based economy. A key element of this Agenda consists of high-performance high-speed networks, ensuring the reliable and rapid transfer of constantly growing data volumes, including in the mobile sector. The steady growth of mobile applications and the resulting data traffic in Europe call for continuous improvement of networks with the latest mobile technology to achieve universal access to high-speed broadband services.