Ericsson Secures USD 106.86 Million Loan from NIB for Groundbreaking Wireless Technology R&D

Ericsson Secures USD 106.86 Million Loan from NIB for Groundbreaking Wireless Technology R&D

(IN BRIEF) The Nordic Investment Bank (NIB) and Ericsson, the Swedish telecommunications giant, have signed a seven-year loan agreement worth USD 106.86 million (EUR 100 million) to support Ericsson’s research and development (R&D) efforts in enhancing wireless technology. These investments, the fourth loan from NIB to Ericsson since 2012, are aimed at reducing energy consumption in mobile networks globally, aligning with Ericsson’s goal to achieve net-zero emissions by 2040. The funds will boost R&D initiatives from 2023 to 2025 and contribute to creating high-value jobs in NIB member countries. Ericsson, headquartered in Stockholm, plays a vital role in the telecommunications sector and is a major player in information and communications technology.

(PRESS RELEASE) HELSINKI, 15-Dec-2023 — /EuropaWire/ — The Nordic Investment Bank (NIB), an international financial institution with focus on the Nordic and Baltic countries, and Ericsson, the Swedish telecommunications powerhouse, have joined forces once again by signing a new seven-year loan agreement totaling USD 106.86 million, equivalent to EUR 100 million. This substantial funding will drive Ericsson’s research and development (R&D) initiatives from 2023 to 2025, with a specific focus on enhancing wireless technology. These investments align with Ericsson’s commitment to achieving net-zero targets by 2040 through energy-efficient mobile networks on a global scale.

This marks the fourth loan provided by NIB to support Ericsson’s R&D activities since 2012.

André Küüsvek, President and CEO of NIB, emphasized the significance of their longstanding collaboration, stating, “Our long-standing cooperation cements Ericsson’s strong position in the competitive telecommunications sector. The investments not only create high value-added jobs across NIB’s member countries but also help advance and mainstream their latest technological developments globally.”

Carl Mellander, CFO of Ericsson, highlighted the pivotal role of wireless technology in the transition to a low-carbon economy, saying, “Wireless technology will play a key role in transitioning towards a low-carbon economy. The signing of the funding agreement with the Nordic Investment Bank provides Ericsson with increased flexibility to drive critical research and development into making our own products more competitive and energy efficient. This will benefit our operator customers as well as other industrial sectors in their efforts to create a positive impact.”

Ericsson, headquartered in Stockholm, Sweden, is a multinational networking and telecommunications company known for its infrastructure, software, and services in information and communications technology for telecommunications service providers and enterprises. In 2022, Ericsson’s R&D investments totaled SEK 47.3 billion (approximately EUR 4 billion).

NIB is an international financial institution owned by eight member countries: Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway, and Sweden. The Bank provides financing for private and public projects both within and outside the member countries and maintains the highest credit rating, AAA/Aaa, with leading rating agencies Standard & Poor’s and Moody’s.

For further information, please contact:

Tore Emanuelsson, Senior Banker, Infrastructure, at +358 10 618 0244, Tore.Emanuelsson@nib.int

Vytautas Brazaitis, Communications Officer, at +358 10 618 0235, Vytautas.Brazaitis@nib.int

SOURCE: Nordic Investment Bank