INFORMATION TECHNOLOGIES: EIB GRANTS LOAN TO ERICSSON'S EUROPEAN CENTRES OF EXCELLENCE.

• Position: European Investment Bank

EIB Vice President Ewald Nowotnyindicated that "support for R&D investment helps to underpin European innovation and competitiveness during a challenging time of worldwide technology transition. It also demonstrates the EIB's continuing support for the European telecommunications industry and the Bank's confidence in the future of the sector. This R&D network collectively enhances the innovation capacity and international competitiveness of the European telecommunications sector".The EIB loan will focus on the improved management and operations of 'IP' based mobile telephony networks, which will allow the transmission of large data volumes at high speed and enable the deployment of Internet services in mobile telephony. The R&D activities concerned are to be carried out over the next two years by Ericsson's Centres of Excellence in Sweden, Ireland, Italy, Greece and Hungary. The company's close co-operation with national technology specialists and universities results in important spill over effects into the local economies through the establishment of small and medium-sized...