Jio ties up with Swedish Export Credit Agency for $2.2 bln funding for 5G gear buy

Mumbai: Reliance Jio Infocomm, the telecom unit of Reliance Industries (RIL), has tied up $2.2 billion financing through the Swedish Export Credit Agency (EKN) in the last fiscal through March to buy equipment and services from Ericsson for the telco’s pan-India 5G rollout.

“RJIL tied up its first ever Swedish Export Credit Agency (EKN) supported facilities of $2.2 billion equivalent making it the largest cover ever provided by EKN for a deal to a private corporate globally,” the Mukesh Ambani-owned conglomerate said in its annual report for FY23.