The European Commission has approved a record second round of funding for broadband deployment across the region.
The fund will provide a €1.8bn (£1.53bn) pool of cash to meet the ambitious goals set out under the 2020 Digital Agenda.
Joaquín Almunia, EC vice president in charge of competition policy, explained that the fund is expected to increase Europe's standing in the world arena, while also boosting jobs and the economy.
"Smart investments into high- and very high-speed broadband infrastructures are crucial to create jobs, increase economic performance and unlock the competitive potential of the EU in the long term," he said.
"The EC is committed to helping EU countries to accelerate private and public investments in this sector."
The fund shows a marked increase against investments in 2009, when the EC provided roughly €400m (£340m), and is the highest amount since the €579m (£492m) investment in 2006.
The EC's State Aid to Broadband (PDF) shows that less advanced areas will receive the bulk of investment, including the UK's Cornwall.
Investment is expected to improve quality of life and increase employment through teleworking, for example. Other benefits include access to health, government and learning services.
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