US, Japan, and South Korea have launched a new framework to further their collaboration with Indian private sector to support digital infrastructure in India.
An announcement in this regard was made by US International Development Finance Corporation (DFC), Japan Bank for International Cooperation (JBIC), and Export-Import Bank of Korea (Korea Eximbank).
Scott Nathan, chief executive officer (CEO), DFC; Nobumitsu Hayashi, governor, JBIC; and Hee-sung Yoon, chairman and CEO, Korea Eximbank signed digital infrastructure growth initiative for India framework (DiGi Framework) to support projects in information and communications technology sector such as 5G, open radio access networks (ORAN), submarine cables, optical fibre networks, telecom towers, data centres, smart cities, e-commerce, artificial intelligence (AI), and quantum technology.
The DiGi Framework aims to streamline the process for DFC, JBIC, and Korea Eximbank to support the needs of strategic digital infrastructure deals in India. It will also facilitate policy dialogues with the Indian government and private sector to encourage private sector funding for digital infrastructure projects. The framework aligns with the U.S.-Japan-Republic of Korea trilateral summit objectives, aiming to advance cooperation between the U.S., Japan, and Korea in partnership with India.
