EU needs cross-border network of 5G ‘corridors’ to spur recovery: Vestager

BRUSSELS: European Union countries should use a chunk of the bloc’s 750-billion-euro ($903 billion) recovery fund to set up 5G corridors to help the 27-country bloc to bounce back from the coronavirus pandemic, Europe’s digital chief said on Monday.

The European Commission unveiled its recovery fund plan last year to support the region’s economies that have been battered by fallout from the pandemic.

The Commission is currently vetting various schemes proposed by EU countries to see whether they qualify for funding. It wants to use a fifth of the COVID-19 recovery fund for digital projects to help the EU to catch up with the United States and China.