Sunday, June 28, 2009

NSN Secures €250 million Loan from European Investment Bank

Nokia Siemens Networks has secured a EUR 250 million loan facility from the European Investment Bank for the development of its multimode Radio Access network technology. The loan provides financial support for conducting R&D in Europe for multiradio technology .

"Nokia Siemens Networks has some of Europe's most talented and innovative developers working on radio access network products that are setting standards across the industry and we are delighted that the value of that work has been recognized by the EIB with this facility," said Luca Maestri, Chief Financial Officer of Nokia Siemens Networks.

EIB Vice-President Eva Srejber said: "The EIB attaches particular importance to the development of a knowledge-based economy in the Union, which assures a long-term growth of European economies. We are happy to assist such promising initiatives."

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