Portuguese cableco Zon Multimedia has reportedly lodged a request with the European Investment Bank (EIB) for EUR100 million (USD140.5 million) in funding towards the development of a next generation network (NGN). As reported by CommsUpdate on 8 January the Portuguese government has made an EUR800 million credit line available through the EIB for telcos looking to invest in the deployment of NGNs. Zon first launched high speed internet services in January 2009 and plans to invest EUR307 million in the expansion of its fibre-optic networks.
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