Nokia, the Finland-based multinational telecommunications, information technology, and consumer electronics corporation was hired by the Electricity Institute (ICE) to carry out the implementation of 5G technology in the country.

The 5G networks have higher download speeds, a peak speed of 10 gigabits per second (Gbit/s) when there is only one user in the network. It has higher bandwidth to deliver faster speeds than 4G and can thus connect more devices, improving the quality of internet services in crowded areas.

Due to the increased bandwidth, it is expected the 5G networks will increasingly be used as general internet service providers (ISPs), competing with existing ISPs such as cable internet, and also will make possible new applications in internet-of-things (IoT) and machine-to-machine areas.

According to the Institute, the Finland telecommunications company will be in charge of providing equipment for the development of fixed wireless access networks.

This agreement allows the country to position as a regional leader in 5G connectivity, the institute said in its statement.

With 5G technology, "the social, economic and environmental benefits will reach the entire population, and we will increase the attraction of foreign direct investment," said Marco Acuña, president of the institute.

In January, Finland announced its interest in developing a 5G network project in Costa Rica. The Nordic country's Ministry of Foreign Affairs, Pekka Haavisto, met Costa Rica's Minister of Foreign Affairs Arnoldo Andre to address the implementation of 5G technology in the country.

Recently, the U.S. Export-Import Bank (EXIM) approved a $300 million loan for the state-owned Electricity Institute (ICE), for the development of 5G technology projects in Costa Rica.

The bank's decision to approve the loan was made after a review of financial information and the positive ratings provided to that financial organization and the positive review to ICE issued by firms such as Moody's and Fitch. 

----------

What have you heard about 5G technology in your country? We would like to know your thoughts on this story. Send your comments news@amcostarica.com