Ljubljana - Four major European banks will invest EUR 130 million in the RUNE project of building broadband optical networks in rural parts of Slovenia and Croatia, the company Rune Enia, which is in charge of the project in Slovenia, said in a press release. So far, 90,000 addresses have been connected to the network.

Banks Kommunalkredit Austria, Norddeutsche Landesbank Girozentrale, the European Bank for Reconstruction and Development and Erste Group Bank committed to investing EUR 130 million in the project co-funded by the EU and the European Investment Bank.

"We are very happy to have secured additional financing. Our goal remains the same - to build broadband optical infrastructure that will give access to internet to areas that have been often overlooked by other providers," said Stojan Nikolić, CEO of Rune Enia and Rune Crow, the company that heads the project in Croatia.

Izzet Guney, general manager of investment company Cube Infrastructure Managers, which runs the fund Connecting Europe Broadband Fund (CEBF), the majority owner of Rune Group, which owns Rune Enia and Rune Crow, sees the additional financing as a major success that will enable the project to achieve its goal.

"CEBF will support the company in encouraging the introduction high quality optical networks, which will allow better connectivity for both citizens and companies throughout Europe," Guney said.

As part of the project, launched in July 2019, a total of 90,000 addresses have so far been connected to the network in both countries, while to goal is to connect 200,000 addresses in Slovenia and almost 150,000 in Croatia.