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World Bank to fund $6.4M mobile Internet systems project

  • File - International Monetary Fund, Managing Director Christine Lagarde addresses the Development Committe April 20, 2013 at the World Bank Headquarters in Washington, DC. (AFP PHOTO/STEPHEN JAFFE)

BEIRUT: The World Bank Group will fund a $6.4 million project to boost Lebanon’s mobile Internet systems and help create employment opportunities, especially among youth and women, said a statement released by the World Bank Thursday.

The $6.4 million Mobile Internet Ecosystem Project approved by the World Bank Board of Executive Directors Thursday is aimed at strengthening innovation and entrepreneurship in the Lebanese mobile Internet ecosystem.

Beneficiaries include software developers, university students, and information and communication technology firms.

“Fostering investment and capital accumulation in new and innovative sectors that use existing domestic human resources and skills can help unleash Lebanon’s potential for growth, and over the long-term shift the economy toward a more sustainable growth path,”said Ferid Belhaj, World Bank country director for the Mashreq region.

 
A version of this article appeared in the print edition of The Daily Star on August 02, 2013, on page 5.
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