United States-Australia-Japan Joint Statement on Cooperation on Telecommunications Financing | The White House

We, President Biden, Prime Minister Albanese, and Prime Minister Kishida, as we speak reaffirmed our dedication to work along with Indo-Pacific companions to satisfy their wants for high-quality, sustainable infrastructure.

On the Partnership for International Infrastructure and Funding (PGII) occasion on the G20 Summit, we introduced that the US Worldwide Growth Finance Company (DFC) and Japan Financial institution for Worldwide Cooperation (JBIC) will, topic to remaining approvals, present USD50 million every in credit score ensures for Export Finance Australia’s (EFA) financing package deal, which was supplied to help Telstra’s acquisition of Digicel Pacific. 

This venture displays our dedication to assist construct a stronger Pacific area by funding in infrastructure, in step with the PGII and the Companions of the Blue Pacific initiative, each established this yr.

Digicel Pacific is the main telecommunications operator within the Pacific, with over 2.5 million subscribers in Papua New Guinea, Fiji, Vanuatu, Samoa, Tonga and Nauru.

Dependable and high-quality telecommunications networks are vital to help the prosperity of our digital economies. This funding will enhance safety and efficiency and ship reasonably priced cell voice and information companies within the Pacific.

Telstra finalised the USD1.6 billion acquisition on 13 July 2022 with USD1.33 billion in financing supplied by the Australian Authorities by EFA.

Our help to this venture builds on our shared dedication to deal with the infrastructure wants of the area by the Trilateral Infrastructure Partnership (TIP). Now we have already introduced help for vital infrastructure within the area, together with the East Micronesia Cable and an undersea cable for Palau. 

The venture is a sensible demonstration of the G20 Ideas for High quality Infrastructure Funding – together with the promotion of socially inclusive, resilient, and environmentally pleasant infrastructure – and supplies a basis for increasing the event influence of telecommunications for the Pacific.

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