The Asian Development Bank (ADB) signed a $50 million agreement with Kacific Broadband Satellites International Limited (Kacific) to provide affordable satellite-based, high-speed broadband internet connections to countries in Asia and the Pacific, especially in remote areas of small island nations in the Pacific and larger island nations like Indonesia and the Philippines. This is ADB’s first satellite financing.
The Asia-Pacific Remote Broadband Internet Satellite Project will help make broadband internet connections more widely available to countries in the region, where more than 2 billion people do not have reliable internet access due to inadequate infrastructure, geographical challenges, and the high cost of services.
“Better access to reliable, high-speed internet can help improve education services, expand access to information, attract investments, reduce rural–urban development gaps, enhance trade and connectivity, and stimulate local economies,” said ADB Director General for Private Sector Operations Mr. Michael Barrow. “It will also help improve communication, especially during emergencies and times of disaster when terrestrial networks might be damaged.”
“ADB’s role was key in getting this transaction closed,” said Kacific Founder and CEO Mr. Christian Patouraux. “ADB’s involvement has helped secure the necessary financing for this highly developmental project. The benefits of connectivity are life-changing—from increased tourism, access to information, financial services, to health care and education for many remote communities in the region.”
The project will support the construction, launch, and operation of a shared geostationary earth orbit, high-throughput satellite. Kacific-1 is scheduled to be launched by SpaceX in December 2019 and will be operational in early 2020.
The financing comprises loans from ADB and the Leading Asia’s Private Infrastructure Fund (LEAP), which is administered by ADB. Established in March 2016 with support from the Japan International Cooperation Agency, LEAP is one of ADB’s cofinancing vehicles dedicated to private sector infrastructure in Asia and the Pacific.
ADB will be working with GuarantCo, a Private Infrastructure Development Group (PIDG) company, to guarantee additional private cofinancing for the project. GuarantCo provides credit solutions for infrastructure development in lower income countries in Africa and Asia and is funded by the governments of the United Kingdom, Switzerland, Australia, and Sweden through the PIDG Trust and the Netherlands through FMO, the Dutch Development Bank, and the PIDG Trust. PIDG is a development and finance organization delivering pioneering infrastructure in the poorest and most fragile countries.
African Development Bank launches digital tool to help African youth learn to code
The African Development Bank and technology firm Microsoft today launched the ‘Coding for Employment’ digital training platform, an online tool to provide digital skills to African youth, wherever they are across the continent.
The platform, launched at the 2019 African Economic Conference in Sharm El Sheikh, Egypt, aims to promote a continuous learning culture among young people and build their capacity to shape the continent’s future.
The high-level event drew heads of state and government, ministers and leaders from the private sector and academia to discuss how this new tool and other technological innovations could be used to spur development across the continent.
“The youth employment and skills development challenge is a complex issue that requires systemic thinking and bold partnerships … to address the existing skills gap and link youth to decent and sustainable employment,” said Hendrina Doroba, the African Development Bank’s acting director for Human Capital, Youth & Skills Development.
“The skills training platform launched today is a testament to the impact that such partnerships can achieve and the Bank looks forward to strengthening similar partnerships.”
The platform teaches technical courses such as web development, design, data science and digital marketing and will be constantly adapted to respond to market demand. It is accessible on mobile devices, even in low internet connectivity settings and has an affordable, easy-to-navigate, secured and private interface.
“A defining challenge of our time is ensuring that everyone has equal opportunity to benefit from technology,” Ghada Khalifa, Director of Microsoft Philanthropies for the Middle East and Africa, said at the launch.
“Forward-thinking initiatives such as the digital training platform represent our commitment to helping drive the momentum needed. Though there is still much work to be done, we believe that through dynamic partnerships such as these, we can help build a knowledge-based economy in Africa that leaves no person behind.”
The Coding for Employment Program is a crucial part of the African Development Bank’s strategic agenda to create 25 million jobs by 2025, and to equip 50 million African youth with competitive skills. The Bank piloted the program in five countries (Nigeria, Kenya, Rwanda, Senegal and Côte d’Ivoire) in partnership with The Rockefeller Foundation and Microsoft and is currently developing 14 ultra-modern centers specialized in ICT and entrepreneurship skills trainings for youth.
The goal is to scale up the program to 130 centers of excellence across the continent over a 10-year period. It will create nine million jobs by building synergies with the public and the private sector globally to deliver demand-driven, agile and collaborative skills to empower young people to become innovative players in the digital economy.
The Coding for Employment training platform can be accessed here across 54 African countries.
Cybersecurity: A Crucial Element of Socio-economic Stability and Prosperity
Cybersecurity has become a key safeguard to future socio-economic prosperity and stability as industries are transitioning towards data- and technology-driven business models and governments grapple with the implications of the Fourth Industrial Revolution. More than 80% believe that risk of cyberattacks will increase in the year ahead. With an estimated pricetag of $90 trillion worldwide, there is a rising imperative to safeguard individuals and businesses.
Under the theme Enabling Leadership for a Secure Digital Future, over 150 leaders and experts in the cybersecurity, policy, regulation and technology fields are meeting at the second annual World Economic Forum Annual Meeting on Cybersecurity in Geneva, Switzerland, to address three priorities: Strengthening global cooperation for digital trust and security, securing future digital networks and technology, and building skills and capabilities for the digital future.
Meeting participants include government representatives from G20 countries, civil society organizations and academia, and prominent cybersecurity leaders from companies representing a cross-section of industries in the private sector. Ten international organizations, 18 countries and over 20 specialized agencies are taking part.
“As the international organization for public-private cooperation, the World Economic Forum is leading a global effort to drive systemic change on the most pressing cybersecurity issues. We believe that this change will be most impactful if the private sector and the public sector work on solutions together,” said Alois Zwinggi, Head of the Centre for Cybersecurity.
Key sessions include preparing for future threats, how to secure smart cities, increasing security by replacing passwords and building cyber-resiliance. Leadership, governance and cooperation were key themes.
The Forum, as the International Organization for Public-Private Cooperation, is offering its Platform on Cybersecurity and Digital Trust to allow the participants to drive the cybersecurity agenda for the coming year, to share information on emerging cyber-threats, jointly assess the risks of emerging technologies and collaborate on urgent action to combat cybercrime.
Building Emerging Technology Governance Key to Realizing Saudi Arabia’s Vision 2030
Governments and companies around the world are investing heavily in emerging technologies to boost growth. The Middle East and North Africa region could see approximately $400 billion added to its economies over the next 15 years if artificial intelligence (AI) solutions are adopted. In Saudi Arabia alone, investment in AI is forecast to add 12.4% to GDP.
To help accelerate the development and implementation of emerging technologies while mitigating risks, the King Abdulaziz City for Science and Technology (KACST) today announced the launch of the Centre for the Fourth Industrial Revolution Saudi Arabia with the World Economic Forum.
As the latest Affiliate to join the World Economic Forum Centre for the Fourth Industrial Revolution Network, this new hub will benefit from the agile governance methodology designed in San Francisco and will apply it to pilot projects in the country. The Centre for the Fourth Industrial Revolution Saudi Arabia will be run and managed locally to help the country achieve its Vision 2030.
“To use the technologies of the Fourth Industrial Revolution such as AI and blockchain, and many others, for driving economic development and social progress, we need global cooperation,” said Klaus Schwab, Founder and Chairman of the World Economic Forum. “On the eve of its G20 presidency, we welcome the Kingdom of Saudi Arabia with the establishment of a new Centre for the Fourth Industrial Revolution in Riyadh, to shape those technologies in a way that serves society.”
In the region, Saudi Arabia has been undertaking large-scale digitalization efforts as part of its National Transformation plan and in the run-up to its G20 presidency. The commercial 5G roll out, recent establishment of the Saudi Authority for Data and Artificial Intelligence and the high percentage of mobile phone and internet use show that the country is taking steps towards shaping the trajectory of Fourth Industrial Revolution technologies.
The World Economic Forum Centre for the Fourth Industrial Revolution Network was founded in 2017 to accelerate the development of emerging technologies by bringing together a multistakeholder community to co-design agile governance policies. To facilitate this process, the Forum launched an Affiliate Centre programme in early 2019 to help countries develop national Fourth Industrial Revolution strategies and public-private initiatives.
Affiliate Centres tap into and share research across the Forum’s global network. The Centre for the Fourth Industrial Revolution Saudi Arabia will focus on the following emerging technology portfolio areas: artificial intelligence; blockchain; data policy; internet of things, smart cities and robotics; and mobility.
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