Ericsson (ERIC) has announced that it has entered into two funding agreements with the European Investment Bank to the tune of 420 million euros, of which 250 million euros was disbursed in December 2023.
These loans are intended to support Ericsson's research and development (R&D) efforts, which aim to progress wireless technology between 2023 to 2025.
The company has emphasized that these R&D investments represent a significant contribution towards its commitment to achieving the Net Zero target by 2040, which it plans to attain via reducing energy usage in mobile networks worldwide.
In December 2023, Ericsson also entered into a green funding agreement with the Nordic Investment Bank to the tune of 100 million euros over seven years. This loan is designed to support R&D efforts in the field of wireless technology.
Ericsson successfully issued a green Euro-denominated bond worth 500 million with a term of 4.5 years on November 23, 2023.
