The Inter-American Development Bank (IDB) affirmed this Wednesday that Latin America and the Caribbean require investments of 68,000 million dollars to close their connectivity gap and thus be able to take full advantage of the opportunities offered by the digital economy.
A study on the development of broadband in 26 Latin American and Caribbean countries presented today at the Miami-LAC 2021 forum indicates that the region’s connectivity gap compared to the countries of the Organization for Economic Cooperation and Development (OECD ) is a major drag.
If this gap is closed, more than 15 million jobs could be created in the region, boosting economic growth of 7.7% and increasing productivity by 6.3%, according to the study.
“The IDB is taking measures to promote a digital ecosystem that helps the region to make these investments, to design national broadband plans, and to create the public-private partnerships necessary to expand coverage for all citizens, especially the most vulnerable. “, stressed the president of the bank, Mauricio Claver-Carone.
“We do not want lost decades,” added the head of the IDB, who recalled that the organization promotes a medium-term plan, called Vision 2025, with which it seeks to achieve a sustainable and inclusive recovery in Latin America and the Caribbean.
While “delays in connectivity and digitization” have dramatically aggravated the economic and social impacts of COVID-19 in the region, that reality “also represents a historic opportunity to reduce inequality and generate employment and sustainable economic growth.”
This Wednesday the forum on digital economy was inaugurated, which brings together entrepreneurs, investors and businessmen in person and virtually with a clear message: “this is the time to move on to the new digital page.”
With information from EFE
