20/10/2026 09:35 AST
The World Bank on Monday announced a new strategy aimed at boosting connectivity and making digital access more affordable in developing countries.
"Digital technology can help countries create jobs and make scarce resources go further," said World Bank President Ajay Banga.
"Realizing that potential requires a comprehensive approach -- from reliable connectivity and affordable devices to digital skills and useful services," he added in a statement.
Developing countries face a crunch with limited resources and a rising need for employment, the Washington-headquartered institution said.
While 1.2 billion people are set to reach working age in such countries over the next 10-15 years, these economies are projected to create just 420 million or so jobs.
The bank's strategy aims to support infrastructure for connectivity and lower the cost of entry-level smartphone and broadband services.
It also wants to widen access to digital services and look into targeted uses of artificial intelligence.
The bank said only 23 percent of people in low-income countries used the Internet, a stark contrast against 94 percent in high-income countries.
Asharq Al Awsat
| Ticker | Price | Volume |
|---|
| Index | Closing | Change |
|---|---|---|
| NIKKEI 225 | 65,324.29 | 898.34 (1.39 |
| DAX | 25,622.61 | 239.99 (0.94 |
| S&P 500 | 7,659.44 | -84.62 (-1.09 |
20/10/2026
China Merchants Port Holdings has withdrawn from a proposed $392 million joint venture to develop a major logistics hub at Colombo Port, Sri Lanka's main seaport, but the project will continue with a
Times of Oman
20/10/2026
Tech firms led heavy losses across Asian markets on Tuesday as investors shrugged off a rebound on Wall Street amid growing worries about the artificial intelligence (AI) investment boom ahead of key
AFP
19/10/2026
Vietnam and four European nations outside the EU signed a free trade agreement in Hanoi on Sunday, seeking to diversify their markets as US tariffs disrupt global commerce.
The deal, between
Asharq Al Awsat
19/10/2026
Lebanese government, economic and banking officials are considering a $2 billion financing plan aimed at stimulating consumer spending, increasing industrial production and boosting exports by provid
Asharq Al Awsat
19/10/2026
Moody's Ratings upgraded Egypt's sovereign credit rating to B3 from Caa1, citing improved public finances, stronger revenue collection and economic reforms that have helped put government debt and in
Arab News