First-time financing by World Bank for digital economy in the Eastern Caribbean approved for US$94 million
A regional Caribbean Digital Transformation Project to build an inclusive digital economy for a total of US$94 million for four Eastern Caribbean countries was endorsed by the World Bank Board of Executive Directors. The project strives to increase access to digital services, technologies, and skills by governments, businesses, and individuals. To this aim, it will support legal and regulatory reforms to promote investment in digital infrastructure, while addressing risks related to cybersecurity and data protection. ‘The digital economy offers a unique opportunity for the Eastern Caribbean countries to become digital leaders. Wider and more rapid adoption of digital technologies can support countries during the COVID-19 recovery phase and help build resilience, create jobs and boost future growth,’ noted World Bank Country Director for the Caribbean Tahseen Sayed.