Nokia receives a 500 million euro R&D loan from the EIB

PHOTO FILE: The Nokia logo is displayed before the company’s press conference in Espoo, Finland on March 2, 2020. Lehtikuva / Markku Ulander via REUTERS

HELSINKI (Reuters) – Nokia disbursed a € 500 million ($ 561 million) loan from the European Investment Bank (EIB) on February 24, according to its annual report released last Thursday to the U.S. Securities and Exchange Commission. .

The Finnish telecommunication equipment manufacturer said the R&D loan facility agreement with the EIB, which has an average term of approximately five years after disbursement, was signed in August 2018 and was available until the month. last.

Nokia’s finances have been in focus since late 2019 when the company stopped dividend payments and said it would have to invest more than it expected in developing its 5G equipment.

Tarmo Virki’s report; Editing by Tom Brown

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