Italy: TIM receives €360 million in EIB financing with SACE guarantee for 5G network development
Summary
The loan will help expand 5G mobile coverage across Italy by the end of 2025 The EIB has provided over 1 billion in financing for TIM projects between 2019 and 2023 SACE returns to support TIM investments after the 2 billion transaction under Garanzia Italia in 2022The European Investment Bank (EIB) partly assisted by a SACE guarantee will support TIM in the development of the next-generation network infrastructure in Italy with a 360 million loan, which will be used to finance the expansion of 5G coverage. The agreement was finalised today by EIB Vice-President Gelsomina Vigliotti and TIM CEO Pietro Labriola, together with SACE Chief Business Officer Bernardo Attolico.The EIB financing, 60% guaranteed by SACE, confirming the strategic nature of the investments, will enable TIM to expand 5G coverage across Italy by the end of 2025 using 700 MHz bands. These loans come under the EIBs main areas of activity, namely developing and supporting the telecommunications network infrastructure, bridging the digital divide, meeting the targets of the Digital Agenda for Europe, and helping the EUs most disadvantaged regions.In 2022, SACE joined a pool of financial institutions under the Garanzia Italia framework to guarantee a 2 billion loan granted to TIM to support investment in Italy planned under the Groups business plan.The European Investment Bank (EIB) finances projects in four priority areas: infrastructure, innovation, climate and environment, and small and medium-sized enterprises (SMEs). It offers mobile and fixed-line telephony services and products for communication and entertainment to individuals and families, and supports small and medium-sized enterprises in their digital transition with a portfolio personalised to their needs. Cloud services, the internet of things and cybersecurity are at the heart of the end-to-end solutions provided by the groups TIM Enterprise business unit, which helps companies and government bodies with their digital transformation using the largest network of data centres in Italy and the expertise of group companies such as Noovle, Olivetti and Telsy.