Friday, November 25, 2022

France’s OVHcloud will get 200 million euro EIB mortgage for European investments

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(Reuters) – The European Funding Financial institution has granted OVHcloud a 200 million euro ($208.18 million) mortgage to assist the French software program group’s growth in Europe, they stated in a joint assertion on Friday.

The funding will assist OVHcloud’s plan to ramp up worldwide improvement by opening 15 new knowledge centres, of which 10 might be positioned in Europe, by the top of 2024.

The mortgage is the primary financing granted by the European Funding Financial institution to a pure cloud market participant for a most quantity, and is in step with the European Union’s technique to strengthen the continent’s autonomy in new applied sciences, the EIB and OVHcloud stated.

($1 = 0.9607 euros)

(Reporting by Federica Mileo in Gdansk; modifying by Milla Nissi)

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