Feeds

World Bank, Intel pump dosh into developing world's IT

Kickstart for broadband and data centres

Bridging the IT gap between rising business demands and ageing tools

Intel is teaming up with the World Bank to work on joint IT investments in developing countries.

The World Bank's private-sector lender – the International Finance Corporation – and Intel Capital – Intel's global investment organisation – will be handing out cash together "to accelerate innovation and nurture entrepreneurship in developing countries", the IFC said in a canned statement.

Most of the investments will be into broadband infrastructure, datacentres and IT services, the IFC said, and will concentrate on firms in Africa and other places where the tech sector is underdeveloped.

The IFC has already invested over $3bn in 115 telco and IT projects in developing countries since 2003.

"These investments give local populations access to the latest technologies, best practices and wider markets, and increase the efficiency of operations," the lender said.

It's not the first time the IFC has worked with Intel Capital. The two already have investments in tech companies including De Novo, a datacentre company in Ukraine, Yandex.ru, which accounts for over 60 per cent of Russia's web searches and SONDA, one of Chile's largest technology integrators.

Recently, they also gave $12m in equity financing to Altobridge, a firm that uses solar power and satellite-connected mobile base stations to provide telecoms services to remote communities. Altobridge counts regions like Iraq, Indonesia, the Solomon Islands and Tonga among its customers. ®

Build a business case: developing custom apps

More from The Register

next story
BBC goes offline in MASSIVE COCKUP: Stephen Fry partly muzzled
Auntie tight-lipped as major outage rolls on
You! Pirate! Stop pirating, or we shall admonish you politely. Repeatedly, if necessary
And we shall go about telling people you smell. No, not really
Airbus promises Wi-Fi – yay – and 3D movies (meh) in new A330
If the person in front reclines their seat, this could get interesting
UK Parliament rubber-stamps EMERGENCY data grab 'n' keep bill
Just 49 MPs oppose Drip's rushed timetable
Samsung threatens to cut ties with supplier over child labour allegations
Vows to uphold 'zero tolerance' policy on underage workers
Dude, you're getting a Dell – with BITCOIN: IT giant slurps cryptocash
1. Buy PC with Bitcoin. 2. Mine more coins. 3. Goto step 1
There's NOTHING on TV in Europe – American video DOMINATES
Even France's mega subsidies don't stop US content onslaught
ITC: Seagate and LSI can infringe Realtek patents because Realtek isn't in the US
Land of the (get off scot) free, when it's a foreign owner
prev story

Whitepapers

Seven Steps to Software Security
Seven practical steps you can begin to take today to secure your applications and prevent the damages a successful cyber-attack can cause.
Consolidation: The Foundation for IT Business Transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.
Designing a Defense for Mobile Applications
Learn about the various considerations for defending mobile applications - from the application architecture itself to the myriad testing technologies.
Build a business case: developing custom apps
Learn how to maximize the value of custom applications by accelerating and simplifying their development.
Consolidation: the foundation for IT and business transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.