NIB and Valoo Oy Partner to Expand Fibre Infrastructure and Boost High-Speed Internet Access in Finland

NIB and Valoo Oy Partner to Expand Fibre Infrastructure and Boost High-Speed Internet Access in Finland

(IN BRIEF) The Nordic Investment Bank (NIB) has signed a EUR 40 million loan agreement with Valoo Oy, a Finnish internet service provider, to support the expansion of fibre infrastructure in Finland. The loan, backed by the InvestEU Guarantee, will enable Valoo to roll out its fibre optic network, aiming to bring high-speed internet to over 300,000 households across the country. The project focuses on underserved suburban areas, particularly in Southern Finland and the Oulu region. The initiative will help address Finland’s shortfall in fixed broadband connections and support national digitalisation goals. Valoo is partly owned by Finnish Industry Investment Ltd (Tesi) and infrastructure equity funds managed by CVC DIF.

(PRESS RELEASE) HELSINKI, 10-Feb-2025 — /EuropaWire/ — The Nordic Investment Bank (NIB) has entered into a EUR 40 million loan agreement with Finnish internet service provider Valoo Oy, aimed at accelerating the expansion of fibre infrastructure across Finland. The loan, backed by the InvestEU Guarantee, is designed to enhance high-speed internet access, focusing on single-dwelling households in suburban regions with limited current coverage.

The 5.5-year loan will support Valoo’s plan to extend its fibre optic network, bringing reliable, high-speed internet to over 300,000 Finnish homes in the coming years. By the end of 2024, Valoo expects to have connected tens of thousands of households in more than 30 municipalities across the country, with a particular emphasis on sparsely populated areas where fibre infrastructure has been lacking. The construction efforts are focused primarily in Southern Finland and the Oulu region.

André Küüsvek, NIB President and CEO, highlighted the significance of the initiative: “This project enhances Finland’s digital infrastructure, particularly in underserved suburban areas, providing much-needed high-speed internet access to those who need it most.”

Despite being a leader in digitalisation in areas such as wireless 4G and 5G networks, Finland faces challenges in the availability of fixed broadband connections offering speeds greater than 100 Mbps. This initiative addresses this gap by targeting regions where service is limited, while also supporting national digitalisation goals and ensuring broader access to essential digital services.

Valoo Oy, a key player in Finland’s fibre optic sector, is dedicated to developing a competitive information society, with ownership from infrastructure equity funds managed by CVC DIF, co-investors, and the Finnish government’s Finnish Industry Investment Ltd (Tesi).

Media Contacts:

Mr Arnaud Defrance, Senior Banker, at +358 10 618 0491, arnaud.defrance@nib.int

Ms Iiris Anttalainen, Communications unit, at +358 10 618 0258, iiris.anttalainen@nib.int

SOURCE: Nordic Investment Bank