EIB supports telecoms research in Spain
The European Investment Bank (EIB) is lending €400 million to Spanish telecoms company Telefónica for investment in research and development (R&D) activities. The money will go towards research on applications for processes, products and technologies for fixed and mobile telecom networks and services. Research centres in Madrid, Barcelona, Valladolid, Granada and Huesca will benefit from the investment. With the aim of accelerating R&D investments and helping the EU to meet the Lisbon goal of becoming the most competitive economy in the world by 2010, the EIB is supporting research projects around the EU. In this case as in others, the EIB funding is being boosted with finance from bank borrowings, own funds and grants. The project will contribute towards developing an innovative information and communication technologies (ICT) infrastructure, as well as hardware and software applications. It will also improve internet, multimedia and telecom services and support competitiveness in these sectors. Telefónica is one of Spain's largest R&D investors, and an active participant in the EU's research framework programmes. It is also a member of the NEM and NESSI European Technology Platforms.
Countries
Spain