The Solomon Islands prime minister, Gordon Darcy Lilo, says the underwater fiber communication cable project is crucial for the country's economy.
The Asian Development Bank has approved 7 point five million US dollars in a grant and ten and a half million in a loan towards the broadband project.
It includes the building of a submarine cable system that will deliver good quality high-speed internet services at affordable prices.
The submarine cable will connect the Solomons to an existing international submarine cable network that runs between Guam and Sydney.
Gordon Darcy Lilo says the government has allocated funding support for the project in its supplementary budget just passed by Parliament.
"So this is a crucial project for our country as it will provide the platform for our road, mining, agriculture, infrastructure, tourism, commerce and also help improve in the social senses as well."
The cable is expected to be in place by December next year.