The Asian Development Bank has approved a 7 point 5 million dollar grant, and 10 point 5 million dollar loan to develop affordable, high-speed internet services in Solomon Islands.
The 60 million dollar Solomon Islands Broadband for Development Project aims to provide good quality, high-speed internet services at affordable prices to the people of Solomon Islands.
The Government will onlend this entire amount to the Solomon Oceanic Cable Company, which is also seeking private sector loans including from ADB's private sector wing.
The submarine cable system will connect Solomon Islands to an existing international submarine cable network that runs between Guam and Sydney, Australia.
The cable system is expected to be in place by December 2013.
The underwater fiber optic cable will provide Solomon Islands population of 550,000 cheaper, accessible, reliable information and communication technology services.