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Allen Overy advised the European Investment Bank and the European Commission on the set up and launch of the Connecting Europe Broadband Fund, which will fund broadband network infrastructure across underserved areas in Europe.
The objective of the fund is to meet the growing demand for financing of smaller-scale broadband projects across Europe, which currently do not have easy access to funding. The fund, which will be managed by Cube Infrastructure Managers, aims to pool around EUR 500 million for guaranteeing broadband investments in order to mobilise at least EUR 1 billion in investment over five years.
The first closing of the fund was held last week with EUR 420 million of commitments. The initial commitments include EUR 140 million from...
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