ROCK MOBILE ROLL-OUT GETS EIB FUNDING

THE European Investment Bank (EIB) has approved €4 million (approximately US$4.5 million) in financing for Rock Mobile — bringing Jamaica’s prospective third telecommunications provider a step closer to deploying its 4G broadband network islandwide.

The Luxembourg-based bank approved the financing earlier this month towards a €29-million (US$32.6-million) project to acquire and deploy a 4G wireless network across the Kingston Metropolitan Area and surrounding parishes.

The approved financing represents about 13.8 per cent of the estimated project cost for the company that had previously outlined plans to invest US$90 million in building its wireless data network — for which it is yet to fully launch commercial services.