The World Bank approved a series of loans to three Caribbean countries to deploy technologies for broadband services in the region.
In the first phase of the Caribbean Regional Communications Infrastructure Program, services will be expanded, IT employment fostered, and government oversight supported.
22 May 2012: The World Bank will lend US$25 million to support the first phase of the Caribbean Regional Communications Infrastructure Program, a program to provide 27 million people in the region with more comprehensive broadband services.
The project consists of a 10-year information and communications technology plan for the entire Caribbean region. This first phase, however, will solely focus on providing better broadband services to Grenada, Saint Lucia, and Saint Vincent and the Grenadines. Specifically, the loan will serve to improve communications infrastructure, with the larger goal of supporting overall regional economic development and growth. A comprehensive communications technology network is expected to generate more information sharing, job growth, and the establishment of an emergency communications system.
The three main components of the first phase of the project are to expand broadband services, foster employment in the information technology industry, and provide the means for proper government management and oversight. [World Bank Press Release]