Epic is to roll out its 5G network and is targeting to reach nation-wide coverage by 2024.

"Connectivity is vital, and the investment by EPIC is also a clear testimony in its trust in Malta and the potential it offers" Economy minister Silvio Schembri told the press on Monday.

When announcing the €20 million project whereby the European Investment Bank will be financing the sum to Epic communications in efforts to accelerate the company's network programme, he said that apart from benefitting customers, Malta will also be in a better position for investors who value connectivity.

Mentioning health concerns about the introduction of the 5G network, he said that apart from operating to limit exposure, the Malta Communications Authority has state of the art tools to control radiation emissions.

Epic CEO Tamás Bányai said the company has, in the last two and a half years, made it its mission to combine quality and affordability.

He said that with its latest investment in fibre optic technology, EPIC has provided the best internet for both homes and businesses. Additionally he said that because of such investment the company can ascertain that it offers twice the internet speed of its competitors together with a brand new mobile network.

Present for the press conference was and for the agreement signing was also Vice President of the European Investment Bank Gelsomina Vigliotti.

She said that one of the things that the Covid-19 pandemic has thought many is the importance of communication, as it ensures relationships especially those related to business.

She said that a strong business component is the need for inclusion, especially for a small country for Malta.

"For a small country and islands it is important to keep connected to the world and be provided with opportunities to pursue ambition" she said.

Vigliotti said that as a banker herself, this kind of investment is a very relevant one as it promotes business.

She said that EPIC's aims align with that of the European investment bank that is to promote digitalisation.

Monaco Telecom CEO Martin Peronnet said that he is happy to have started a conversation with the government that promotes transformation in the digital sector.

"We realised that something needed to be done, technologies do not go in straight line in the mobile sector" he said.

Peronnet said that supporting a new generation of network on the island in order to promote digitalisation comes at a cost, especially since there is a need for increased internet speed and the digital equipment needed for 5G