European Investment Bank extends credit to Ericsson

The European Investment Bank has granted Ericsson a credit facility of EUR 250 million. The funds are intended to bolster Ericsson's 5G research and development effort.

Alexander Stubb, Vice President of the European Investment Bank, says: “The development of 5G technology is easily one of the most important innovation initiatives for the telecom industry in the coming years. Ericsson has been one of the defining contributors to what mobile telephony is today and I think we can only be proud to support this. Apart from supporting European technology, this project will also make sure that thousands of highly-skilled jobs will stay in the EU.”

Ericsson noted that invested SEK 37.9 billion in research and development during 2017. The company holds some 45,000 patents and has more than 23,600 staff working in research and development.