THE European Investment Bank (EIB) has approved €4 million (approximately US$4.5 million) in financing for Rock Mobile — bringing Jamaica’s prospective third telecommunications provider a step closer to deploying its 4G broadband network islandwide.

The Luxembourg-based bank approved the financing earlier this month towards a €29-million (US$32.6-million) project to acquire and deploy a 4G wireless network across the Kingston Metropolitan Area and surrounding parishes.

The approved financing represents about 13.8 per cent of the estimated project cost for the company that had previously outlined plans to invest US$90 million in building its wireless data network — for which it is yet to fully launch commercial services.

The project, which is intended to deliver fixed wireless access services, comprises about 100 radio access network nodes to be installed at existing telecommunications tower sites, supported by core network systems, transmission equipment, service platforms and other technology.

“By supporting a new entrant into the Jamaican broadband market, the operation’s objective is to stimulate competition, which would result in improved service quality, affordability and digital inclusion by extending broadband coverage,” the EIB said in a summary sheet of its decision.

Rock Mobile secured rights to the 700-megahertz spectrum band in 2021 through an international bidding process, marking an important step towards establishing the company as a third major player alongside Digicel and Flow.

In 2022, the company signed an agreement with the International Finance Corporation (IFC) to access market expertise and support for its network deployment, with a commitment to accelerate broadband access in unserved and underserved communities. Nokia has been contracted as the project’s sole network provider.

Rock mobile currently holds licences covering internet service provision, carrier services, international service provision and domestic voice services. Its stated goal is to provide nationwide internet coverage through wireless and fixed broadband offerings that addresses connectivity gaps and concerns about service quality and coverage.

“Since we began operation, we have been working hard behind the scenes to build a network and team that will bring the internet to Jamaica’s unserved and underserved communities,” the company noted in its bio.

“From the home, to the classroom, to the boardroom, we believe in data equity and that everyone deserves opportunities. Our big goal is to provide Jamaica with nationwide internet coverage through wireless and fixed broadband options. With incredible international partners like Nokia, our network will be world-class and will close the data gaps,” it added.

Government in welcoming news of the recent funding approval said it will continue to monitor the company’s progress towards launching its services as it expands broadband network islandwide.

The network’s completion and the commencement of commercial operations would introduce another competitor in the local telecommunications market, potentially widening consumer choice and improving access to broadband services.

Telecommunications Minster Daryl Vaz in his contribution to the 2025/26 Sectoral Debate in the House of Representatives last year had indicated that he was looking forward to the expansion of services and increased competition expected from the entry of a new provider.

“I, too, would have liked to have seen this third provider already offering services to the Jamaican people, but am cognisant that in a strong and fiercely competitive market, such as Jamaica, getting it right at the outset is important if the objectives are to be achieved,” he stated.