Ericsson secured two seven-year agreements with the European Investment Bank (EIB) for loans worth a total of €420 million, a sum the vendor intends to use to support its R&D investments and advance green initiatives.
In a statement, Ericsson noted €250 million of the sum had already been disbursed.
The cash will be used to finance parts of its R&D in wireless technology and boost its overall sustainability agenda, as well as to improve its balance sheet.
CFO at Ericsson Carl Mellander stated wireless technology will “play a key role in transitioning to a low-carbon economy” and that the agreement will help it conduct research and develop energy-efficient, competitive products with more flexibility.
In a separate but related statement, the EIB noted R&D investments are “a key step on Ericsson’s path to reaching its 2040 net-zero target through reduced energy consumption in mobile networks”.
Last November, the vendor moved to issue a €500 million green bond to finance its broader sustainability push.
The agreements with EIB will form an important part of Ericsson’s overall financing strategy and complement other sources, including a seven-year €100 million funding from the Nordic Investment Bank agreed towards the end of 2023.
The post Ericsson bags €420M in loans to fund green goals appeared first on Mobile World Live.
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