The European Investment Bank (EIB), assisted in part by a SACE guarantee, is providing €360 million ($397 million) in financing to TIM Group for the development of the next-generation network infrastructure in Italy.
TIM, the top telecommunications company in Italy, will use the loan to finance the expansion of 5G coverage. In addition, the financing will give TIM access to a debt instrument on more favorable terms than those offered on the bond-banking market.
The EIB has provided more than €1 billion ($1.1 billion) in financing for TIM projects between 2019 and 2023. In 2022, SACE, the Italian export credit finance agency, joined a pool of financial institutions under the Garanzia Italia framework to guarantee a €2 billion ($2.2 billion) loan granted to TIM to support investment in Italy planned under the group’s business plan.