Ultra‑broadband: EIB and FiberCop sign 1 billion euro investment deal

Brussels – Accelerating the development of ultra-broadband in Italy is now even more possible. The European Investment Bank (EIB) and FiberCop have signed a 1 billion euros agreement for super-fast telecommunications. EIB Vice-President Gelsomina Vigliotti and FiberCop Chairman Massimo Sarmi signed the agreement for the disbursement of the first tranche of 500 million euros. 

The funds made available to the company that operates Italy’s most advanced and extensive digital infrastructure through the InvestEU programme investment scheme will enable FiberCop to expand its Fibre-to-the-Home (FTTH) network, designed to connect a further 5.8 million homes and businesses across Italy at speeds of up to 10 Gigabits per second, to reach the announced target of 20.3 million property units by the end of 2027, thereby making a significant contribution to reducing the digital divide in the country.

 Overall, around 40 per cent of the investment will be channelled into the regions included in the single Special Economic Zone (SEZ) for the South, with the aim of improving access to connectivity in areas where the infrastructure gap is particularly pronounced. The initiative is part of Italy’s ultra-broadband strategy and contributes directly to achieving national targets for gigabit connectivity. 

“Investing in modern, high-capacity digital networks will strengthen the country’s competitiveness, support growth and ensure equal opportunities for citizens and businesses,” Vigliotti said. With this funding, she explains, “we aim to reduce the digital divide, foster technological innovation and meet the digitalisation targets of Italy and the European Union.” 

The FiberCop CEO also welcomed the news: “The operation strengthens our role as a key infrastructure provider and our remit to enable the country’s digital development,” comments Sarmi , who is also pleased because “accessing finance from a high-profile institution like the EIB confirms the credibility of FiberCop’s strategy and demonstrates its unique position and importance in Europe.”