Jamaican Government Inks Partnership With World Bank’s IFC For National Broadband Project

• Jamaica’s Minister of Finance, Dr Nigel Clarke, has officially entered into a financial advisory services agreement with the International Finance Corporation (IFC), the private sector subsidiary of the World Bank. This groundbreaking agreement is a pivotal step in developing and structuring the National Broadband Project, which is set to be established as a dynamic public-private partnership (PPP).
• This significant milestone was achieved during a momentous signing ceremony on December 4^th, within the bustling backdrop of the 28th session of the United Nations Conference of the Parties (COP 28) held in Dubai. During the signing ceremony, Dr Clarke emphasised the Jamaican government’s unwavering commitment to ensuring equitable access to affordable, dependable, high-speed broadband services for all its citizens.
• He echoed the sentiments expressed by Prime Minister Andrew Holness, underscoring the critical role that accessible broadband plays in transforming the nation into a digital society poised for heightened productivity and accelerated growth.
• Dr Clarke further elucidated, stating, “This is an essential building block of the transformation to a digital society which, in turn, promises to unleash greater productivity and faster growth. However, this vision cannot be affordably realised if all broadband providers have to reach all homes entirely on their own proprietary networks.”
• Highlighting the Jamaican government’s proactive stance, the statement issued during the signing ceremony disclosed plans to fortify the nation’s broadband infrastructure through GovNet. GovNet is envisioned as a secure network platform that will serve all ministries, departments, and agencies.

(Source: Caribbean National Weekly)