Telefónica has received a loan totalling £170 million for the purchase of BlackBerry’s new range of goods and services.

The loan is being provided by Export Development Canada (EDC), which said that the investment would: "facilitate BlackBerry market share growth within Telefónica".

The loan comes as Telefónica struggles in a highly competitive marketplace which saw the Spanish telecoms giant post a loss of £425 million in 2012.

The new BlackBerry offering has been marketed at corporate users with the inclusion of a physical keyboard.

The move to stock the product carries risk, with BlackBerry having suffered heavily in past years from service disruption and a loss of visibility in the marketplace compared to Samsung and Apple.

Businesses move away from BlackBerry to Android and iPhone devices