Agencies
The Japan Bank for International Cooperation will provide up to 800 million euros ($822 million) in loans to a major German telecom company to support 5G development, in an apparent bid to help the European nation curb dependence on China.
The deal, signed late last month, comes as Germany has been seeking to phase out components from Chinese telecom giants Huawei Technologies Co. and ZTE Corp.
The Japanese government-backed lender and private financial institutions will fund Germany’s United Internet AG’s 5G telecom system, utilizing software developed by a unit of Rakuten Group Inc., an e-commerce and mobile communication firm of the Asian nation.
The envisioned infrastructure will adopt Open Radio Access Network technology, which standardizes connection points to allow equipment from multiple suppliers to work together seamlessly rather than relying on a single vendor, JBIC said.
