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Monday, 18 December 2023 18:12

CAF and MCDF to support El Salvador with US$500,000 in a submarine cable project to improve connectivity

Written by Miguel Crespin
CAF and MCDF to support El Salvador with US$500,000 in a submarine cable project to improve connectivity Courtesy

The Development Bank of Latin America and the Caribbean has secured a partnership with the Steering Committee of the Multilateral Cooperation Center for Development Finance (MCDF) to improve El Salvador's digital connectivity.

Both institutions have approved a US$500,000 grant to support the preparation of a submarine cable project that CAF is leading to promote digital development in El Salvador and the region. This money is intended to finance a review of the technical, legal, financial, and environmental safeguards for the submarine cable project, which will originate in El Salvador and connect through Panama and other countries in the region.

The submarine cable project will address the current lack of independent Internet connectivity channels in El Salvador and build capacity to take advantage of digitalization in the country and the region.

MCDF Program Team Leader Frederic Asseline said, "We welcome our third grant to CAF this year to support an ICT project in the Latin American region. The MCDF grant will fund due diligence for a CAF investment to develop a submarine cable linking El Salvador to Panama and other countries in the region".

 

Translated by: A.M

Published in Technology
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