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IDB partners with T&T to aid digital transformation

MINISTER of Planning and Development Pennelope Beckles has signed a US$90 million conditional credit line for investment projects with the board of governors of the Inter-American Development Bank (IDB) and IDB Invest in Punta Cana, Dominican Republic.

A news release from IDB stated that Beckles and IDB president Ilan Goldfajn signed the project yesterday which includes a 'first individual loan of US$42 million, to facilitate the digital transformation of Trinidad and Tobago by supporting the expansion and enhancement of the digital economy'.

Beckles also highlighted T&T's commitment to embracing digitalisation to remain competitive in the digital age.

She also indicated that there is an 'all-hands-on-deck' approach for the 'successful execution of this programme'.

The signing ceremony also included executive director for the Caribbean Constituency Robert LeHunte, who was instrumental in driving the approval of the programme by the bank's board of directors in December 2023, the statement said.

LeHunte said, 'Success hinges on fostering dialogue and forging strategic alliances among governmental bodies, agencies, the private sector, and civil society.'

The project, approved by the IDB board on December 13, 2023, will boost productivity through inclusive and safe digital technology adoption and innovation in Trinidad and Tobago, the Ministry said in a statement. Selected government agencies will receive institutional strengthening support to advance their use of data interoperability platforms and cybersecurity management.

Additionally, over 150 firms will receive support to use digital technology to improve their productivity and more than 500 public service employees will have access to advanced training opportunities in digital service delivery and project management, the Ministry stated.

The programme will also feature activities that promote the digital inclusion of people with disabilities and womenled firms.

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