According to Telecompaper on 4/2, The German branch of Telefonica has signed an agreement with the European Investment Bank (EIB) to obtain an 8-year loan of 450 million euros (3.48 billion yuan) to fund the launch of 5g network, some of which will also be used to expand its 4G network. In December last year, Telefonica announced plans to increase network investment in the next two years, especially through 4G to improve coverage in rural areas and accelerate the promotion of 5g in urban areas. Its 3G network will be shut down by the end of 2022.
