BAKU, Azerbaijan, January 29. EIB Global, the international arm of the European Investment Bank (EIB), has signed a 125 million euro loan agreement with satellite solutions provider SES to enhance connectivity across underserved regions, Trend reports.
The loan will fund three satellites for SES’s next-generation medium Earth orbit (MEO) system, O3b mPOWER.
With eight of the 13 O3b mPOWER satellites already launched, SES aims to extend high-throughput, flexible broadband services to remote areas in Africa, Asia, and Latin America. The project is designed to address the urban-rural digital divide and provide access to critical services like education, healthcare, and e-governance.
“Digital connectivity is key to economic and social development, especially in areas with limited broadband access,” said Robert de Groot, Vice-President of the EIB. “This partnership not only bridges the digital divide but also strengthens Europe’s independence in space-based data, contributing to Europe’s strategic autonomy.”
Sandeep Jalan, CFO of SES, expressed confidence in the partnership, stating that the loan reflects SES’s ability to secure diverse funding sources while expanding its global connectivity services.
The initiative is part of the EU’s Global Gateway program, which focuses on sustainable infrastructure investments that connect people and enhance quality of life. It also aligns with the EU Space Programme 2021-2027, bolstering Europe’s space capabilities.