A broadband fund of at least €500 million has been announced to contribute to delivering an inclusive Gigabit Society for Europe and prevent a new Gigabit-divide from the outset.

The European Commission and the European Investment Bank (EIB) revealed the new fund designed to boost the amounts invested in broadband network infrastructure across underserved areas of Europe. The Connecting Europe Broadband Fund will lead to an investment platform combining private and public commitments, with three state-backed national lenders – KfW Bankengruppe from Germany, Cassa Depositi e Prestiti from Italy and Caisse des depots et consignations from France – announcing their participation in the initiative as anchor investors.

The FTTH Council Europe said applauds the establishment of the new fund with the aim of fostering very high-capacity broadband infrastructure deployment throughout Europe. It urges the fund to invest in future-proof fibre-based networks in the long-term interest of European citizens and businesses. “The Connecting Europe Broadband Fund will be especially important for supporting smaller, local fibre projects that have a tremendous role in ensuring that all communities are part of the Gigabit Society,” says the Council.

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