World Bank seeks to boost connectivity in developing countries

The World Bank announced a new strategy to improve connectivity and digital access in developing nations. This initiative aims to lower the cost of smartphones and broadband services while expanding digital service accessibility. As developing cou...

Agencies
World Bank seeks to boost connectivity in developing countries
Washington: The World Bank on Monday announced a new strategy aimed at boosting connectivity and making digital access more affordable in developing countries.

"Digital technology can help countries create jobs and make scarce resources go further," said World Bank President Ajay Banga.

"Realizing that potential requires a comprehensive approach -- from reliable connectivity and affordable devices to digital skills and useful services," he added in a statement.


Developing countries face a crunch with limited resources and a rising need for employment, the Washington-headquartered institution said.

While 1.2 billion people are set to reach working age in such countries over the next 10-15 years, these economies are projected to create just 420 million or so jobs.

The bank's strategy aims to support infrastructure for connectivity and lower the cost of entry-level smartphone and broadband services.
ADVERTISEMENT

It also wants to widen access to digital services and look into targeted uses of artificial intelligence.

The bank said only 23 percent of people in low-income countries used the Internet, a stark contrast against 94 percent in high-income countries.
Download
The Economic Times Business News App
for the Latest News in Business, Sensex, Stock Market Updates & More.
Download
The Economic Times News App
for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
READ MORE
ADVERTISEMENT

READ MORE:

LOGIN & CLAIM

50 TIMESPOINTS

More from our Partners

Loading next story
Business News › News › International › World News › World Bank seeks to boost connectivity in developing countries
Text Size:AAA
Success
This article has been saved

*

+