USD 1.5 million for the development of the South American broad band network

CAF, Development Bank of Latin America, subscribed a technical cooperation agreement with the Union of South American Nations (UNASUR, for its acronym in Spanish), to finance consultancies to define the projects that are necessary for the development of the South American Connectivity Network. Through this agreement, the Institution will contribute USD 1.5 million to develop the studies that will improve broadband services in the region, expand the population's access to these services, and promote the reduction of prices for Internet final users. 

Juan Antonio Sosa, CAF's Corporate Vice President for Infrastructure, highlighted the importance of this project for the continent's modernization in matters related to telecommunications and availability of broadband in remote regions at more affordable prices. "It is an essential step to generate wider access to more advanced networks and local contents, and incorporate most of the information and communications technologies (ICT)". 

Sosa explained that the studies will include three sectors: demographic, technical, and institutional. The objective is to learn about "the status of each of these components in the continent, to see what has been done already, and mostly, to be able to build". 

At the same time, Ernesto Samper, General Secretary of UNASUR, expressed gratitude for the Institution's contribution and stated that this project will provide the region with access "to communication channels that are faster, at a lower cost, and are independent", as the study will show what adjustments each country has to make "to be able to integrate" a regional optic fiber ring. 

Samper highlighted the importance of infrastructure as part of the region's economic proposal, by stating that one of UNASUR's challenges is to generate activities with value added, as 80 percent of world trade is carried out through value chains. He added that "the important thing is not to have, but rather to know". 

Mario Bergara, President of CAF's Board and Minister of Economy and Finance of Uruguay, stated his satisfaction after achieving "an important agreement with a great strategic vision" that will strengthen "a system of infrastructure and  contents" focused on the specific nature of the countries of Latin America.