The European Commission has approved, under EU State aid rules, €300 million of public support for Greece’s Ultrafast Broadband Infrastructure Scheme.
The scheme will bring ultrafast broadband services to customers in areas with insufficient connectivity in Greece.
The scheme aims to advance the deployment of broadband infrastructure capable of delivering download speeds of at least 100 Megabits per second (Mbps), upgradable to 1 Gigabit per second (Gbps), to households, companies and public institutions.
The scheme targets areas where no fast broadband infrastructure offering at least 30 Mbps is currently in place, and where no private investor has shown any interest to invest commercially in the near future.
Commissioner Margrethe Vestager, in charge of competition policy said: “Access to high-performance internet connectivity is crucial for European citizens, for society and the economy.
“With this decision, the Commission endorses the use of EU funds for the development of ultrafast internet in areas of Greece where private investment is insufficient.
“This is an important step for competitiveness and innovation in Greece as well as for social and territorial cohesion,enabling Greek households and businesses to benefit fully from the Digital Single Market.”
The Greek Ultrafast Broadband Scheme has an indicative budget of €300 million and is financed through the European Regional Development Fund, the European Agricultural Fund for Rural Development and private investments.