The Nordic Investment Bank and the Finnish multinational telecom company, Nokia have signed a loan agreement financing EUR 250 million loans for research and development activities related to 5G technology.
The loan, which has an average maturity of approximately 5 years after disbursement will finance Nokia’s extensive research and development programme focused on fifth-generation (5G) activities in Europe in 2018–2020. The investment will especially concentrate on developing new 5G-related end-to-end product offerings for different business areas.
5G is the next generation of wireless systems beyond the current 4G standards, providing a considerable increase in network capacity. Network slicing provides network operators with the ability to differentiate their services to match clients’ needs.
Nokia’s 5G research and development program also focuses on the implementation of the “Internet of Things”, machine-type communication between the things humans have invented. In practice, this means a network of different devices, such as home appliances, vehicles and other electronics, being able to exchange data wirelessly.
We are pleased to receive this financing commitment from the NIB, which shares our view of the revolutionary nature of 5G. – Kristian Pullola, CFO, Nokia
5G is the next generation of wireless systems; the business opportunities of 5G are numerous as it will be the first mobile generation designed from the beginning for machine-type communication says Henrik Normann, NIB President & CEO.
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