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December 8, 2014

EU plans digital technology boost with new investment

Talks with telecom groups, authorities, local communities and investors would commence in 2015.

By CBR Staff Writer

The European Commission is planning a double-digit billion Euros investment on digital technology, as part of its investment drive to boost the region’s economy.

According to EU Digital Economy Commissioner Guenther Oettinger, negotiations with telecom groups, authorities, local communities and investors concerning the expansion of digital networks would commence in 2015.

Oettinger told to German magazine Focus: "It will be about the questions of who will do what and how the expansion can be financed.

"A double-digit billion euro amount qualifies for this as part of the EU’s investment package."

In November, the European Commission put up a €300bn plan to bolster Europe’s sluggish economy.

In addition, EU has already started reserving €8bn, with more €5bn being offered by the European Investment Bank (EIB) to finance the particular fund to be supervised with the European Investment Bank.

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