Giga is proposing a $5 billion Connectivity Bond
UNICEF and ITU are proposing to launch a $5 billion Connectivity Bond. This will provide the significant upfront funding needed to accelerate critical infrastructure investments and mobilize public and private capital. It will be one layer of the estimated $428 billion needed to connect every school in the world to the Internet.
Bond proceeds will be used to invest in last mile infrastructure, research and data gathering, real-time monitoring of school connectivity, and connectivity in communities around schools. The Connectivity Bond can have a similar impact on connectivity as the Gavi/IFFIm Bonds have had on vaccines: aligning financing, creating a clear procurement path, and providing real-time data about results to donors and beyond.
Giga is looking for donor governments and private foundations to provide multi-year commitments to serve as backing for the Bond. The first donors will build the capital foundation to support an initiative that aims to narrow the digital divide, a divide that has become even wider during the Covid-19 pandemic.