| Project Detail |
Location:
Greece
Project number:
53639
Business sector:
Telecommunications, Media and Technology
Notice type:
Private
Environmental category:
B
Approval date:
06 Jul 2022
Status:
Signed
PSD disclosed:
23 Sep 2022
The European Bank for Reconstruction and Development ("EBRD" or the "Bank") is supporting Greeces digital transition with a €150 million investment in Hellenic Telecommunications Organisation S.A. ("OTE" or the "Company") to support the implementation of an up to EUR 187.5 million investment programme for the deployment of fibre broadband infrastructure by 2027. The project is the first under the EBRDs Greek Recovery and Resilience Facility ("RRF") Co-Financing Framework implemented as part of the "Greece 2.0" National Recovery and Resilience Plan, funded by the European Unions NextGenerationEU programme. The €150 million loan consists of a €56.25 million tranche provided from the Banks own resources and a €93.75 million tranche financed by the EUs RRF and channelled via the Greek Ministry of Finance, while the remaining €37.5 million of the investment are covered by OTEs own resources.
Project Objectives
The funds will enable OTE to finance part of its rollout of "fibre to the home" (FTTH) broadband infrastructure to approximately 371,000 households and businesses in 12 regions outside of Greeces major cities, improving access to connectivity and high-speed broadband, and promoting regional inclusion. The project aligns fully with the RRF digital transformation pillar, while FTTH technology is nearly 40 per cent more energy efficient than traditional copper network cabling technology (ADSL) per unit of data transmitted. The transaction will therefore lead to significant reductions in greenhouse gas emissions and contribute to the green transition of Greeces economy. |
