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Loan for network technology

WIRELESS equipment firm Nokia Siemens Networks has received a 250 million euro (US$350.7 million) loan from the European Investment Bank to develop its network technology, the company said yesterday.

The joint venture between Nokia Corp and Siemens AG said the loan will be used to support research and development in Europe for its multimode radio access network technology.

The technology allows telecommunication companies to use one platform for both GSM and third-generation, or 3G, mobile technologies.

"The EIB attaches particular importance to the development of a knowledge-based economy in the (European) Union, which assures long-term growth of European economies," EIB Vice President Eva Srejber said in a statement.



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