The European Investment Bank granted OVHcloud a 200 million euro loan last week to support European expansion.

The funding will support the cloud company's international development by opening 15 new data centers, as reported by Reuters.

10 will be located in Europe by the end of 2024.

The EIB and OVHcloud stated jointly that this is the first loan by the European Investment Bank to a pure cloud market player and is in line with the European Union's strategy to strengthen the continent's autonomy in new technologies.