NIB and Ericsson continue cooperation on technology development

NIB and the Swedish telecommunications company Ericsson have signed a new seven-year loan agreement for the development of enhanced wireless technology.

The USD 106.86 million loan, equivalent to EUR 100 million, will finance part of Ericsson’s investments in research and development (R&D) between 2023 and 2025. The investments support the company’s plan to reach net zero targets by 2040 through reduced energy consumption in the mobile networks globally.

This is already NIB’s fourth loan to Ericsson’s R&D activities since 2012.

“Our long-standing cooperation cements Ericsson’s strong position in the competitive telecommunications sector. The investments not only create high value-added jobs across NIB’s member countries but also help advance and mainstream their latest technological developments globally,” says André Küüsvek, President and CEO of NIB.

“Wireless technology will play a key role in transitioning towards a low-carbon economy. The signing of the funding agreement with the Nordic Investment Bank provides Ericsson with increased flexibility to drive critical research and development into making our own products more competitive and energy efficient. This will benefit our operator customers as well as other industrial sectors in their efforts to create a positive impact,” says Carl Mellander, CFO of Ericsson.

Ericsson is a Swedish multinational networking and telecommunications company headquartered in Stockholm. The company sells infrastructure, software, and services in information and communications technology for telecommunications service providers and enterprises. During 2022, Ericsson’s R&D investments totalled SEK 47.3 billion (approximately EUR 4 billion).

NIB is an international financial institution owned by eight member countries: Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway and Sweden. The Bank finances private and public projects in and outside the member countries. NIB has the highest possible credit rating, AAA/Aaa, with the leading rating agencies Standard & Poor’s and Moody’s.

For further information, please contact:

Tore Emanuelsson, Senior Banker, Infrastructure, at +358 10 618 0244, Tore.Emanuelsson@nib.int  

Vytautas Brazaitis, Communications Officer, at +358 10 618 0235, Vytautas.Brazaitis@nib.int