Washington: The United States, Japan, and South Korea team up to announce an exciting new partnership with the Indian private sector. This collaboration aims to boost digital infrastructure in India, and it’s all thanks to the US International Development Finance Corporation, the Japan Bank for International Cooperation (JBIC), and the Export-Import Bank of Korea (Korea Eximbank).
The trio of DFC CEO Scott Nathan, JBIC Governor Nobumitsu Hayashi, and Korea Eximbank Chairman and CEO Hee-sung Yoon came together to sign the Digital Infrastructure Growth Initiative for India Framework (DiGi Framework). This framework will support various projects in the information and communications technology sector, including 5G, Open RAN, submarine cables, optical fiber networks, telecom towers, data centers, smart cities, e-commerce, AI, and quantum technology.
By teaming up with JBIC, Korea Eximbank, and the private sector in India, DFC aims to unleash the power of private capital to meet the growing demand for top-notch digital infrastructure in India. As DFC CEO Scott Nathan puts it, this framework is a step in the right direction towards promoting sustainable development and prosperity in the Indo-Pacific.
JBIC Governor Nobumitsu Hayashi chimed in, highlighting the timeliness and alignment of the framework with the policies of the Governments of India and Japan. This partnership is a result of the trilateral memorandum of understanding signed in August 2023, following a high-level meeting in March 2024.
Korea Eximbank’s Chairman and CEO Hee-sung Yoon also shared his excitement, emphasizing the institution’s commitment to meeting the changing needs of its clients. This collaboration between the three institutions is set to lay a solid foundation for addressing the demand for digital infrastructure in India.
In a nutshell, this partnership is not just about building digital infrastructure – it’s about building bridges and fostering growth. So, here’s to a brighter, more connected.
DFC, JBIC, and Korea Eximbank are committed to working in partnership with India to harness private sector resources that promote high-quality investments in digital infrastructure in India.
