EC kicks off €500M broadband investment drive

BRUSSELS, BELGIUM – The European Commission and European Investment Bank have announced a new a €500 million investment fund designed to improve broadband infrastructure across underserved areas of Europe.The Connecting Europe Broadband Fund aims to invest between €1 million and €30 million in 7 to 12 broadband projects each year from 2017 to 2021, reads the news release. Overall, the Fund is expected to unlock additional investments between €1 billion and €1.7 billion in broadband deployment in underserved areas, where very high-capacity networks are not yet deployed.Initial investors include KfW Bankengruppe from Germany, Cassa Depositi e Prestiti from Italy and Caisse...