Reuters reports that under the scheme, which will run until 30 June 2026, the aid will take the form of direct grants to electronic communications services providers.

“This will enable consumers and business to access high-quality 5G services, contributing to the economic growth of the country and to the EU’s strategic objectives relating to the digital transition,” EU Commission vice-president Margrethe Vestager said in a statement.

The decision of the European Commission is of utmost importance; the introduction and development of 5G networks within the European Union is a strategic decision and it is important to react in a timely manner.

The EU’s executive summary on this topic states that 5G is central to a large-scale technological, industrial and innovation transition globally, which represents a significant opportunity for Europe. 5G will enable many business applications with significant potential for economic growth and innovation across a variety of sectors, including healthcare, mobility, urban development, agriculture and media. The development of 5G technologies, both for equipment and applications, is a key vector of innovation where the winners of tomorrow are decided today.

5G technologies are a driver of European strategic digital autonomy. European businesses developing 5G technologies, equipment and applications compete in a global market. Maintaining a strong position in this market will be key to ensuring a diversity of choice for telecom operators deploying 5G equipment, thus supporting Europe’s autonomy and role in the sector.