PH internet gets boost with $287-M World Bank loan
The World Bank (WB) approved a loan worth 268.22 million euros (about $287.24 million) to fund the broadband internet connectivity project of the Philippine government, which is expected to benefit at least 20 million Filipinos.
In a statement on Friday, the Washington-based multilateral lender said its executive directors approved the fresh financing as part of its “Philippine Digital Infrastructure” project.
Through this initiative, the World Bank will invest in the government’s national fiber optic backbone, middle-mile and last-mile connectivity infrastructure.
Also, the lender said the funding will help ensure that these facilities are secure against cybersecurity threats and climate risks.
The new financing—which will carry a concessional rate and better terms for the borrower compared with those that come with commercial loans—will add to the government’s debt stock that was pegged at P15.55 trillion as of end-August.
“Improved internet access will help all Filipinos, especially those in remote areas of Mindanao, gain better education, health care, social protection and government services,” said Zafer Mustafaoğlu, World Bank country director for the Philippines.
Article continues after this advertisement“This project fosters a brighter future for lagging regions by connecting everyone and ensuring that the poorest and most vulnerable Filipinos can benefit from the power of technology,” Mustafaoğlu added.
Article continues after this advertisementThe national fiber optic backbone refers to a network of high-capacity cables that link different regions of the country. Carrying large amounts of data at high speeds, this network serves as the principal data highway for communications within the country.
The World Bank said this project will complete the remaining parts of the backbone, connecting the two main international landing stations in Baler (Luzon) and Davao City (Mindanao).
Meanwhile, investments in the middle-mile infrastructure will extend connectivity from the main backbone to more localized underserved areas in the regions of Western Visayas, Central Visayas, Easter Visayas, Zamboanga Peninsula, Northern Mindanao, Davao Region, Soccsksargen and Caraga.
WB said the project will create infrastructure foundations that will connect public institutions, schools and hospitals in Eastern Mindanao, along with free Wi-Fi access points in these facilities.
