The United States, Japan, and South Korea have announced a new initiative aimed at strengthening digital infrastructure in India. This collaboration will be facilitated through the Digital Infrastructure Growth Initiative for India Framework, known as the DiGi Framework, which was officially launched on Friday.
The announcement was made by representatives from the US International Development Finance Corporation (DFC), the Japan Bank for International Cooperation (JBIC), and the Export-Import Bank of Korea (Korea Eximbank). DFC CEO Scott Nathan, JBIC Governor Nobumitsu Hayashi, and Korea Eximbank Chairman and CEO Hee-sung Yoon signed the agreement to support various projects within the information and communications technology sector. These projects will focus on 5G technology, Open RAN, submarine cables, optical fiber networks, telecom towers, data centers, smart cities, e-commerce, artificial intelligence, and quantum technology.
The DiGi Framework aims to create a more efficient process for these institutions to collaborate with the Indian private sector, ensuring that strategic digital infrastructure projects receive the necessary support. The framework will also encourage policy discussions with both the Indian government and private sector to enhance funding opportunities for these projects.
Scott Nathan emphasized the importance of this partnership, stating, “By partnering with JBIC, Korea Eximbank, and the private sector in India, DFC will be able to more effectively unleash the power of private capital to meet the demand for high-quality digital infrastructure in India.” He noted that this initiative represents significant progress toward promoting sustainable development in the Indo-Pacific region.
Nobumitsu Hayashi, the JBIC Governor, highlighted that the framework aligns with the policies of India and Japan and reflects agreements made during a trilateral meeting in March 2024. Hee-sung Yoon, from Korea Eximbank, pointed out that this collaboration strengthens the bank's development finance capabilities to meet the evolving needs of clients.
The DiGi Framework embodies the goals set during the US-Japan-South Korea trilateral summit and aims to enhance cooperation between these nations and India, focusing on high-quality investments in digital infrastructure.
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