Just because the Symbian Foundation is a non-profit organization doesn’t mean it can survive without some sort of cash flow. Hence a 500 million euro (US$630 million) loan agreement with the European Investment Bank on Nokia’s behalf. Nokia says that the loan will be used to finance research and development project between now and 2011 to create more competitive Symbian smartphones, which will not only benefit its bottom line, but benefit the work of the foundation which is working on open-sourcing the Symbian operating system. As expected, Nokia says the Symbian Foundation will begin operations before the end of June 2009.
