The European Investment Bank has approved up to €1 billion in financing for FiberCop to expand and modernise Italy’s ultrafast broadband network, with an initial €500 million tranche signed in Rome.
FiberCop said the funding will support the strengthening of its Fibre-to-the-Home (FTTH) network — fibre optic lines that run directly into buildings — and extend connectivity to an additional 5.8 million homes and businesses, the EIB reported on Thursday.
The company said the expansion is intended to help it reach a total of 20.3 million connected property units by the end of 2027.
Around 40% of the investment is due to be made in regions included in the special economic zone for central and southern Italy.
The financing is backed by a guarantee from InvestEU, the European Union’s investment programme, through which the EIB Group has already activated more than €6 billion in investments in Italy.
Open-access model and speeds up to 10 Gbps
FiberCop said the network will be developed under an open-access wholesale model, meaning telecoms operators can use the infrastructure to provide services to customers.
The project is expected to offer operators speeds of up to 10 Gbps in areas that currently lack very high-capacity services.
The agreement was signed by EIB Vice-President Gelsomina Vigliotti and FiberCop Chairman and Chief Executive Massimo Sarmi.
The financing forms part of Italy’s Ultrafast Broadband Strategy and is linked to the country’s gigabit connectivity targets.
