SNIB tops up Lothian broadband investment
Lothian is developing rural connectivity
The Scottish National Investment Bank has invested a further £20 million to help connect 100,000 rural homes to ultrafast fibre broadband.
Lothian Broadband Networks (LBN) will use the additional funding to complete the current phase of expansion by the end of 2024. The bank provided cornerstone funding of £20m to LBN in 2021.
Gavin Rodgers, CEO of LBN said: “This new funding from the Bank takes our overall investment capacity for the year ahead up to £50m.
“This further support from the Bank highlights our effectiveness at working with our partners in government and local communities to transform connectivity in rural Scotland.”
The funding support will help develop a rural digital economy by increasing connectivity in areas of Scotland that would be unlikely to get access to a gigabit capable network.
LBN is building full-fibre XGS-PON networks throughout the Highlands, East Lothian and Fife.
So far over 10,000 premises throughout rural Scotland have access to the latest broadband.
The technology being installed has the capability to support up to 10Gb symmetrical connectivity, currently the fastest and most reliable network being built anywhere in the UK.
Residents in these areas can purchase competitively priced packages with speeds of up to 2Gbps through LBN’s retail brands Lothian Broadband and Highland Broadband.
Nicola Douglas executive director at the bank said: “Ultrafast broadband has a transforming impact, boosting economic growth, reducing inequalities, and helping education.
“Our investment in LBN is already making a difference for both rural businesses and homes and by supporting this state-of-the-art fibre roll out we are future proofing the network.”