Europe’s digital chief announced on Monday that the European Union (EU) countries should use some of the $903 billion recovery fund to set up 5G corridors to help countries recover from the pandemic. ET Telecom reported that the European Commission unveiled a recovery fund plan in 2020 to support the economies of the 27-countries that comprise the EU.
The 5G cross-border corridors would create a network to help EU countries deploy 5G technology across the region. The upgraded tech would improve phone and internet speeds for consumers, spur new businesses, automate factories, and run critical infrastructure.
The Commission is currently vetting various EU countries’ proposals to see whether they qualify for funding. EU countries have until the end of April to submit project proposals for consideration.
The plan is to use a fifth of the COVID-19 recovery fund for digital projects to close the gap since the United States and China are ahead of the EU, reported ET Telecom. The goal is to spend the majority of funds before 2023.