World Bank commits $70bn to propel Digital Infrastructure Development in Ghana, other developing nations

The World Bank’s recent announcement of a substantial $70 billion commitment to support digital infrastructure development in Ghana and other developing nations marks a pivotal moment in bridging the digital divide. This pledge, unveiled during a panel discussion at the WBG/International Monetary Fund (IMF) Annual Meetings in Marrakech, underscores the global effort to lay the groundwork for a more inclusive digital future.

With a glaring disparity in digital access between advanced and low-income countries, the World Bank’s Senior Managing Director, Axel Van Trostsenburg, stressed the necessity of concrete financial investments to propel progress. To this end, the International Development Association (IDA), a subsidiary of the World Bank, is directing a substantial portion of its $93 billion replenishing towards Africa, with a focus on bolstering digital infrastructure and other developmental initiatives.

The linkage between physical digital infrastructure and the objectives of the African Continental Free Trade Area (AfCFTA) was emphasized as a key driver of economic growth. Regional integration, facilitated through digital development, is expected to yield significant economic gains.

The World Bank’s approach extends beyond monetary commitments, calling for a multi-faceted strategy that encompasses regulatory frameworks, infrastructure establishment, and the mobilization of private sector finances for digital development. This comprehensive approach seeks to address the multifaceted challenges of digital inclusivity.

Ghana’s perspective, as articulated by Ursula Owusu-Ekuful, the Minister of Communications and Digitalisation, highlights the hurdles faced in enhancing digital acceleration due to financial constraints. Despite ongoing efforts to deploy 4G networks, only 30% of the population currently enjoys high-speed broadband access. The government of Ghana is actively exploring Public-Private Partnerships (PPPs) as a viable avenue to boost high-speed internet accessibility.

Moreover, Ghana’s endeavors to democratize digital access have yielded notable results, with citizens from diverse backgrounds benefitting from programs aimed at empowering them with digital skills. The country’s journey from novices to software and robotic engineers underscores the transformative potential of digital inclusion.

Lastly, the announcement that Ghana is poised to host the first global cyber security capacity building conference in November 2023 signifies a significant step towards enhancing capabilities in the global south. This initiative holds the promise of reducing reliance on costly consultants and bolstering digital infrastructure management.

The World Bank’s substantial financial commitment and Ghana’s efforts in expanding digital infrastructure, fostering inclusivity, and enhancing digital security are indicative of the collective determination to usher in a more equitable and digitally connected future for all.

Source: Norvanreports