European technology for India’s 5G network

Large-volume export finance from KfW IPEX-Bank for European supplies to expand Indian network infrastructure

The expansion of the mobile network in India is being driven forward with the help of European supplies. Network operator Reliance Jio Infocomm Ltd. (a subsidiary of Reliance Industries Ltd.) entered into extensive supply contracts in order to modernise the telecommunications infrastructure, in particular upgrading the mobile network to ultra-fast 5G technology.

Of the total financing amounting to around USD 2.1 billion, KfW IPEX-Bank is contributing EUR 500 million in the form of export financing for European supplies from the Swedish company Ericsson. The financing is covered by the Swedish export credit agency (EKN).

“We are pleased to support the Reliance Group with whom we have a long-standing established business relationship as well to support Ericsson, a major European exporter, to conclude a large-volume supply contract in India,” said Andreas Ufer, Member of the Management Board of KfW IPEX-Bank. Ericsson also contributes to the development of the German export and high-tech economy with around 2,700 employees in Germany, including more than 1,000 in the Research and Development department.

About KfW IPEX-Bank
Within KfW Group, KfW IPEX-Bank is responsible for project and export finance. It supports German and European companies operating in key industrial sectors in global markets by structuring medium and long-term financing for their exports, funding infrastructure investments, securing supply of raw materials and by financing environmental and climate change mitigation projects worldwide. As a bank that stands for transformation, it finances technologies of the future to support the transition towards sustainable society in all three dimensions of the economy, environment and social. By implementing ambitious sector guidelines for CO2-intensive sectors KfW IPEX-Bank ensures its financings are compatible with the goals of the Paris Agreement. By introducing GHG accounting it aims to achieve a net zero emissions portfolio by 2050.

As specialist bank, KfW IPEX-Bank has extensive industry, structuring and country expertise, it takes on leading roles in financing consortia and actively involves other banks, institutional investors and insurance firms. KfW IPEX-Bank operates as a legally independent group subsidiary and is represented in the most important economic and financial centres across the globe.