- Thanks to the EIB support, Epic will accelerate the rollout of its 5G network to reach nationwide coverage by 2024 and expand its fibre-optic network by continuing to install its ultrafast broadband network in selected areas of Malta.
- Over the last five years, the EIB has supported telecom and broadband networks worldwide with €11.7 billion worth of financing.
The European Investment Bank (EIB) recently confirmed its commitment to support the telecom operator Epic in implementing its mobile network modernisation programme, including the continued development of its state-of-the-art 5G mobile infrastructure. Through this support, the EIB is ensuring that the company can continue its network expansion plan and the rollout of its 5G network to reach nationwide coverage in the country by 2024. With the investment, Epic is also expanding its pilot project to deploy ultrafast fibre-to-the-home (FTTH) infrastructure in selected areas of Malta.
This investment is in line with the EIB’s objective to support the development of telecommunication network infrastructure and bridge the digital divide. The project will significantly benefit Malta and its residents and regional development, as these broadband connections are needed to be able to reap the full benefits of digitalising economic sectors such as agriculture, tourism and commerce. It will also address the development of the core network, enabling Epic to cater for the expected increase in traffic demand and build a more future-proof and effective fibre network to support its mobile network.
EIB Vice-President Gelsomina Vigliotti said: “The telecom sector requires significant investment to foster the digital acceleration. Thanks to this EIB support, Epic Communications Limited will expand both the 5G network to reach 99% coverage in the country and fibre-to-the-home connections to cover one-quarter of households in Malta.”
Epic Chief Executive Officer Tamás Bányai commented: “This is an important moment not just for Epic but for everyone in Malta as we are building the strongest network with next generation connectivity. Our vision is aligned with the EIB and the government of Malta in bringing digital access to every person, home and organisation for a fully connected world.”
The funding is in line with the EIB’s cohesion strategy and Malta’s Smart Specialisation Strategy 2021–2027, which is particularly significant given the important role that digital infrastructure has within any country and the critical transformation of digitalisation to promote innovation activities in Malta.
Over the last five years, the European Investment Bank has provided €11.7 billion for telecom and broadband network investment around the world. This has supported investment by leading telecom operators, including Deutsche Telekom, Telefónica, Iliad, Orange, Magyar Telecom and Eutelsat, and the construction of submarine communications cables to Africa, the rollout of national broadband networks, and the development of 5G mobile infrastructure.
Background information:
The European Investment Bank (EIB) finances projects in four priority areas: infrastructure, innovation, climate and environment, and small and medium-sized enterprises (SMEs).
Epic Communications Limited is a technology company built with the vision to reimagine connectivity by providing a great network with great value. Discover more at epic.com.mt.