US, Japan, and South Korea Launch Initiative to Enhance Digital Infrastructure in India

The United States, Japan, and South Korea have introduced a new initiative to enhance digital infrastructure in India through collaboration with the Indian private sector. This announcement was made by the US International Development Finance Corporation (DFC), Japan Bank for International Cooperation (JBIC), and the Export-Import Bank of Korea (Korea Eximbank).

The Digital Infrastructure Growth Initiative for India Framework, or DiGi Framework, was signed by DFC CEO Scott Nathan, JBIC Governor Nobumitsu Hayashi, and Korea Eximbank Chairman and CEO Hee-sung Yoon. This framework aims to support projects in various sectors like 5G, Open RAN, submarine cables, optical fibre networks, telecom towers, data centres, smart cities, e-commerce, AI, and quantum technology.

Focus on Digital Infrastructure

The DiGi Framework establishes a streamlined process where DFC, JBIC, and Korea Eximbank collaborate with the Indian private sector to address strategic digital infrastructure needs. This process will also facilitate policy dialogues with the Indian Government to encourage private sector investment in digital infrastructure projects.

Scott Nathan stated that partnering with JBIC, Korea Eximbank, and the Indian private sector allows DFC to effectively leverage private capital for high-quality digital infrastructure in India. "This framework is tangible progress toward our shared goal of promoting sustainable development and prosperity in the Indo-Pacific," he said.

Trilateral Cooperation

Nobumitsu Hayashi highlighted that the framework aligns with the policies of India and Japan. It reflects agreements from a high-level trilateral meeting among DFC, Korea Eximbank, and JBIC in March 2024 under a memorandum signed in August 2023.

Korea Eximbank's Hee-sung Yoon noted that this framework supports their development finance function aligned with Korea's economic agenda. "This framework, formed in collaboration of three institutions, will lay a solid foundation for addressing the demand for digital infrastructure in India," he said.

Shared Priorities

The DiGi Framework aligns with objectives from the US-Japan-Republic of Korea trilateral summit. It aims to advance cooperation between these countries and India to promote shared priorities. DFC, JBIC, and Korea Eximbank are committed to working with India to harness private sector resources for high-quality investments in India's digital infrastructure.

This initiative represents a significant step towards enhancing India's digital landscape through international cooperation. By leveraging expertise and resources from multiple countries, it seeks to foster sustainable development and prosperity across the Indo-Pacific region.