Super-fast business broadband 'is key to European growth'

Growth of the European economy over the years to come will rely on a small number of factors, including the provision of super-fast business broadband connections.

The European Investment Bank (EIB) has highlighted the technology as key to expansion of trade and markets.

It is due to host a conference in Luxembourg this week at which leading academics and businesspeople will demand greater investment in such areas.

"Close cooperation with leading economists from around the world helps to encourage strategic reflection of long-term priorities such as superfast broadband and guide overall sector support by the EIB," stated Plutarchos Sakellaris, vice-president of the bank.

The EIB is expected to announce at the conference that approximately €200 billion (£174 billion) is required in order to roll-out high-quality business broadband across the continent.

Akamai Technologies' 2011 State of the Internet study recently concluded that broadband in Europe is generally improving, with Italy one nation to take steps forward this year.