Minister of Finance, Dr Nigel Clarke has signed a financial advisory services agreement with the International Finance Corporation (IFC), the private sector arm of the World Bank, for the development and structuring of the National Broadband Project as a public private partnership (PPP).

A release announcing the occasion stated that the singing took place Monday morning on the margins of the 28th session of the United Nations Conference of the Parties (COP 28) in Dubai with Jamaica’s minister with responsibility for water, environment and climate change Senator Matthew Samuda participating.

“As stated by the Prime Minister [Andrew Holness], the Government views it a priority to ensure that all Jamaicans have access to affordable, reliable, high speed broadband service,” said Clarke during the signing.

“This is an essential building block of the transformation to a digital society which, in turn, promises to unleash greater productivity and faster growth. However, this vision cannot be affordably realised if all broadband providers have to reach all homes, entirely on their own proprietary networks,” he added.

Clarke continued: “Working with minister with responsibility for digital and skills, transformation Dr Dana Dixon, and the IFC, we will develop a national broadband PPP that attracts well-resourced and technically proficient private investors to build out a complementary broadband network that can be leveraged by all broadband providers to provide universal, affordable access to broadband for all Jamaicans, wherever they reside and work.”

The Jamaican Government has already indicated that it intends to bolster the island’s broadband network through GovNet, which is a platform that will provide a secure network for all ministries, departments and agencies, the statement on Monday said.

It added that work has already started in phases to include the laying of some 32 kilometres of fibre optic cables along nine corridors in Kingston and St Andrew.