The World Bank has supported developing countries this year with more than $100 billion in private capital, representing an increase of over 60 %.

According to the institution’s president, Ajay Banga, traditional donors “do not have the necessary funds to respond to the needs of developing countries.” He added that the World Bank “cannot lend $200 billion a year.” “We don’t have them.”

Governments have no room to maneuver and depend on private capital to bridge the gap between domestic needs and the public funds they can muster.

But, it is essential that the funds loaned by the World Bank be repaid, in a system or scheme satisfactory to investors.

M.Pino

Source: swissinfo

(Reference image source: Logan Voss on Unsplash)

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La entrada World Bank increases support for developing countries apareció primero en Bitfinance.

Meta, owner of Facebook, decided to close its low-cost Internet service designed for developing countries, with which it would offer stable and fast access in exchange for an affordable payment.

The Express Wi-Fi program was launched five years ago with the aim of offering Internet access through a series of local operators, at a cheaper price. In this time it has operated in more than 30 countries, such as India or Senegal.

With this system, Meta Connectivity provided customers with fast and reliable Internet access via Wi-Fi at an affordable price or discovered hotspots. In 2018 I complement it with a mobile application for Android.

With the announcement of the closure, the company ensures that they are working with their partners to minimize the impact this may have on businesses and users when they end work on Express Wi-Fi at the end of the year.

“While we are wrapping up our work on this program to focus on developing other projects, we remain committed to working with partners across the telecommunications ecosystem to deliver better connectivity”, the company said in a statement.

K. Tovar

Source: Zonamovilidad

La entrada Meta closes low cost Internet service apareció primero en Bitfinance.