Swedish vendor Ericsson confirmed it has signed two agreements for funding with the European Investment Bank (EIB) for a total of EUR 420 million ($456 million) of which EUR 250 million had been disbursed in last month, the company said in a release.
The new funding will help the vendor to strengthen its balance sheet and financial position and will also enable Ericsson to carry out investments in research and development (R&D) in relation to enhanced wireless technology between 2023 and 2025. The Nordic vendor stressed that the R&D investments are an important contributor into Ericsson’s overall plan to reach its Net-Zero target by 2040 through reduced energy consumption in the mobile networks globally.
