French cloud operator OVHcloud gets datacenter funds from EU lending arm
French cloud operator OVHcloud has been granted dedicated funding for its expansion by the European Investment Bank , comprising a €200 million credit facility to help it open new datacenters.itself as the"lending arm of the European Union," the €200 million credit facility demonstrates the bank's determination to actively support European digital players, and is in line with the EU's priorities for strategic autonomy in the area of new technologies.
OVHcloud is one of the largest cloud operators in Europe and the funding for its expansion is claimed to be the first such instance of the EIB providing financing for a cloud company. The EIB is the European Union's investment bank and is publicly owned by the EU member states. The company said it intends to speed up its international deployments with the opening of 15 new datacenters by the end of 2024 in order to address new markets and new geographies. In line with this, 10 of the 15 new sites will open in Europe over the next 24 months.
OVHcloud CEO Michel Paulin said in a statement:"This additional financial capacity provided by the EIB contributes to our Group's strategic roadmap and will enable us to promote a cloud that respects our European values faster, higher and stronger."
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Money-savvy mum saves over £650 to spend on Christmas using simple 1p hackThe 33-year-old explained that the by stashing away the pennies everyday she was able to save a whopping £667.95 by the end of the year
Read more »
Car experts reveal 12p hack to stop windscreen frost using ONE kitchen itemCar experts have revealed one simple life hack to stop windscreen frost amid dropping temperatures.
Read more »
£100 Amazon and John Lewis vouchers to be given to homes for using less energyThousands of Brits can get £100 vouchers for retail giants like Amazon and John Lewis for using less energy this winter
Read more »
EU gas price cap plan is ‘not sufficient’, says French minister\n\t\t\tGet local insights from Lisbon to Moscow with an unrivalled network of journalists across Europe,\n\t\t\texpert analysis, our dedicated ‘Brussels Briefing’ newsletter. Customise your myFT page to track\n\t\t\tthe countries of your choice.\n\t\t
Read more »
EU gas price cap plan is ‘not sufficient’, says French minister\n\t\t\tGet local insights from Lisbon to Moscow with an unrivalled network of journalists across Europe,\n\t\t\texpert analysis, our dedicated ‘Brussels Briefing’ newsletter. Customise your myFT page to track\n\t\t\tthe countries of your choice.\n\t\t
Read more »