NIB and Valoo to expand high-speed internet access in Finland

The Nordic Investment Bank (NIB) and Valoo Oy, a Finnish internet service provider, have signed an agreement for a EUR 40 million loan under the InvestEU Guarantee to accelerate the roll-out of fibre infrastructure and provide high-speed internet services primarily to single-dwelling households across Finland.

The 5.5-year loan supports the company’s plan to roll out its fiber optic network, which will bring fiber connections to over 300,000 Finnish homes in the coming years. By the end of 2024, Valoo had expanded its network to tens of thousands of households across more than 30 municipalities throughout Finland. The company focuses particularly on building fiber connections in sparsely populated suburban areas where such infrastructure is still lacking. Construction is primarily concentrated in Southern Finland and the Oulu region.

“This initiative strengthens Finland’s digital infrastructure by bringing high-speed internet access directly to underserved, low-density suburban regions,” says André Küüsvek, NIB President and CEO.

Although Finland is a pioneer in digitalisation, excelling in areas such as wireless 4G and 5G networks, the availability of digital services, and data consumption, it lags many other European countries in the number of fixed (over 100 Mbps) broadband connections in households. This project aims to address this shortfall by focusing on areas with limited services. At the same time, it supports national digitalisation goals and improves access to critical network services.

Valoo Oy is a Finnish fiber optic company and internet service provider working to build an internationally competitive information society in Finland. Valoo is owned by infrastructure equity funds managed by CVC DIF and their co-investors, as well as the Finnish government-owned Finnish Industry Investment Ltd (Tesi).

The InvestEU programme provides the European Union with crucial long-term funding by leveraging substantial private and public funds in support of a sustainable recovery and growth. You can read more at NIB and InvestEU.

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
Tuomas Suurpää, Senior Banker, at +358 10 618 0376, Tuomas.Suurpaa@nib.int

Iiris Anttalainen, Communications unit, at +358 10 618 0258, Iiris.Anttalainen@nib.int