Nordic Investment grants Elisa $113 million to develop 5G in Finland and Estonia

A EUR 100 million ($113 million) loan arrangement for the deployment of 5G network in Finland and Estonia has been signed by Nordic telecom operator, Elisa and Nordic Investment Bank (NIB).

NIB’s president and CEO, Henrick Normann believes that the loan to Elisa will help the deployment of the 5G network that is vital to the companies in the Nordic-Baltic region. Veli-Matti Mattila, Elisa’s CEO also agrees that new applications and services need more speed and features and 5G is the solution. Elisa has therefore announced that the deployment of the 5G network in the two markets will begin in the first months of 2019.

While Elisa already announced the placement of the 5G network in Tampere, Finland, and Tallinn, Estonia, the loan will ensure that it reaches all of Finland and Estonia faster than imagined.

The 5G test Elisa carried out in partnership with Huawei in February 2018 confirms that the company has been updating its network to be 5G- ready in Finland and Estonia. The test was carried out at Helsinki in a moving car simultaneously with two 5G terminal devices.

Meanwhile, in earlier 5G test relating to virtual reality (VR), augmented reality (AR), and gaming applications, a speed of 1.4 Gbps was achieved between the base station and the device.

In another news, a Memorandum of Understanding (MoU) has been signed by Portuguese carrier Altice Portugal with Chinese vendor Huawei for the deployment of a 5G network. Alice Portugal is expected to begin the launch the commercial usage of 5G services in 2019.