EU: Commission approves €300M for broadband networks in Greece

The European Commission has approved, under EU State aid rules, €300 million (US$332 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 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 Developmentand private investments.

The measure will incentivise private investments in further connectivity, facilitate competition, and encourage investments in the provision of ultrafast internet access to households and businesses in the target areas. The Commission assessed the measure under EU State aid rules, in particular its 2013 Broadband Guidelines. The Commission concluded that the scheme’s positive effects on competition in the Greek broadband market outweigh potential negative effects brought about by the public intervention.

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.”