Press release: The EIB renews its support towards Orange with financing of 500 million euros for the deployment of 5G and 4G networks in FranceSource: OMX
Paris, 2 March 2023
The EIB renews its support towards Orange with financing of 500 million euros for the deployment of 5G and 4G networks in France
Orange signed on the 14th of February 2023 a euro 500 million loan with the European Investment Bank (EIB) to partly finance Group’s deployment of its 5G mobile network in France and strengthening of its 4G mobile network capacity in rural areas in France. The drawdown of the loan took place on the 1st March.
This loan supports Orange in its strategy of responsible innovation and enhanced connectivity throughout France. The complementarity of the Orange 4G and 5G mobile networks offers the best experience quality to its retail and corporate clients in all territories.
This financing is globally aligned with the roadmap of Orange's new strategic plan "Lead the future", which aims among other objectives to capitalise on the Group's infrastructures in order to consolidate Orange's leading position in terms of quality of services and networks.
"We are delighted with our long-term partnership with the European Investment Bank. Thanks to this new loan, the EIB supports Orange in the deployment of its innovation strategy around 5G and its digital inclusion objectives", said Ramon Fernandez, Deputy CEO Finance, Performance and Development of Orange. “This financing will enable Orange to strengthen its leadership in the mobile network in France, whether in terms of network coverage, indoor network quality, voice quality and experience for all of its 5G and 4G customers”.
“The financing of network infrastructure that is essential for improving connectivity in the European Union is one of the Public Bank of Europe's investment priorities. This is why I welcome this new loan to Orange to continue the deployment of its mobile networks", added EIB Vice-President Ambroise Fayolle. "To succeed, the digital transition requires that the whole of France be able to benefit from very good quality Internet access, including in the least densely populated rural areas, so as to enhance their attractiveness and make life easier for those who live there."
Orange is one of the world’s leading telecommunications operators with sales of 43.5 billion euros in 2022 and 136,000 employees worldwide at 31 December 2022, including 75,000 employees in France. The Group has a total customer base of 287 million customers worldwide at 31 December 2022, including 242 million mobile customers and 24 million fixed broadband customers. The Group is present in 26 countries. Orange is also a leading provider of global IT and telecommunication services to multinational companies under the brand Orange Business. In February 2023, the Group presented its strategic plan « Lead the future », built on a new business model and guided by responsibility and efficiency. « Lead the future » capitalizes on network excellence to reinforce Orange's leadership in service quality.
Orange is listed on Euronext Paris (symbol ORA) and on the New York Stock Exchange (symbol ORAN).
For more information on the internet and on your mobile: www.orange.com, www.orange-business.com or to follow us on Twitter: @orangegrouppr.
Orange and any other Orange product or service names included in this material are trademarks of Orange or Orange Brand Services Limited.
About European Investment Bank
Created by the Treaty of Rome and founded in 1958, the European Investment Bank (EIB) is the European Union's long-term financing institution having as shareholders the 27 EU Member States. EIB’s mission is to contribute through its loans to the integration, balanced development, economic and social cohesion of the EU. The EIB borrows large volumes of funds on the capital markets and lends them on very favorable conditions to support projects that contribute to the achievement of major European objectives. As a European climate bank, its objectives are to promote the emergence and deployment of new technologies to meet the current challenges of the energy transition towards a new low-carbon growth model. In 2022, the EIB invested 70% of its 8,4 billion euro in investments in projects linked to the fight against climate change and nearly a third (2,7 billion euros) in innovation.
More information on: www.eib.org
Follow EIB on Twitter: @BEIFrance
Orange: Tom Wright; +33 6 78 91 35 11; firstname.lastname@example.org
EIB: Christophe Alix: +33 6 11 81 30 99; email@example.com