Ericsson Signs Funding Deals With European Investment Bank

(RTTNews) - Ericsson (ERIC) said that it has signed two agreements for funding with the European Investment Bank for a total of 420 million euros whereof 250 million euros was disbursed in December 2023.

The loans are allocated to fund Ericsson's research and development (R&D) initiatives focused on advancing wireless technology from 2023 to 2025.

Ericsson stated that the R&D investments are an important contributor into the company's overall plan to reach the Net Zero target by 2040 through reduced energy consumption in the mobile networks globally.

In December 2023, Ericsson signed a 7-year 100 million euros green funding agreement with the Nordic Investment Bank. The loan will finance R&D investments in wireless technology.

On November 23, 2023, Ericsson announced the successful placement of a green Euro-denominated 500 million 4.5-year bond.