Proximus secures EUR400 million loan for fibre acceleration plan

8 Mar 2018

Proximus, Belgium’s largest ISP by subscribers, has announced that it has acquired a EUR400 million (USD497 million) loan from the European Investment Bank (EIB) to fund an acceleration in its rollout of fibre-optic broadband services across the country. The move is part of Proximus’ ‘Fiber for Belgium’ project, which will see the company invest EUR3 billion over ten years to increase the availability of fibre-to-the-premises (FTTP) nationwide; the telco has previously said it aims to ‘reach 85% of businesses and bring fibre to the centres of cities and communes in Belgium.’ By February 2018 the telco had already connected over 6,000 enterprises with fibre broadband, with work planned, or already underway, in 24 cities and municipalities in the short-term.

Belgium, Proximus