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Romanian consumer protection body begins investigation into Temu and Shein
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The European Investment Bank (EIB) is lending Estonia’s state-owned power utility Eesti Energia €70mn for the development of a fibre access network for broadband internet for 266,000 households, the EU’s investment bank said on June 4.
The loan will finance upgrading the quality of internet access in areas with insufficient broadband connectivity and limited broadband services, the EIB said. The upgraded fibre network will enable download speeds of 1 gigabyte per second (Gbps).
Following the upgrades, the network will be offered on an open-access basis to any retail provider of broadband services by the end of 2023.
The loan’s tenor is maximum 14 years with an availability period of three years, the EIB said.
“Estonia has already made name for itself as a very digitalised country and we are happy to help push the boundaries of broadband internet access in the country even further,” the EIB’s vice president Thomas Ostros said in a statement.
At 30%, Estonia was the 13th best OECD member state in terms of percentage of fibre connections in total fixed broadband as of June 2019, the OECD said in its March broadband access update. The top three were Korea, Japan and Lithuania, the latter’s ratio exceeding 70%.
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