CAF unveils investments for telemedicine, submarine cable and AI
Latin American development bank CAF unveiled investments worth around US$80mn for ICT projects in Latin America.
The largest is for a telemedicine project in El Salvador, with CAF approving a US$77mn loan to improve access and coverage in patient care through the implementation of a technological platform. It is expected to benefit more than 4mn people, the bank said in a press release.
"This operation is very important for us as a development bank of Latin America and the Caribbean because it offers an innovative solution that allows us to improve the coverage and quality of health services, especially in rural and difficult-to-access areas," said Sergio Díaz-Granados, CAF's executive president.
Together with the Multilateral Cooperation Center for Development Finance (MCDF), CAF will also support work related to the implementation of two projects in the region. They will allocate US$1.6mn to analyze the technical, economic and legal feasibility for the deployment of the first submarine cable between Chile and Antarctica, in order to provide connectivity to research centers in Antarctica that currently access the internet via satellite.
The project, which is promoted by Chile's infrastructure association Desarrollo País, will demand an estimated investment of US$100mn. The cable will have an extension of approximately 1,000km and run from Magallanes region to Antarctica. The final investment amount, route and business model will be defined by the feasibility study.
MCDF and CAF also approved a US$1.5mn project to develop pre-investment studies for the construction of a network of high-performance computing centers for AI in Latin America and the Caribbean, starting with Chile and the Dominican Republic. The initiative could later be replicated in countries such as Costa Rica, Mexico, Colombia, Peru, Argentina, Uruguay and Brazil.
Last week, CAF unveiled investments worth US$927mn for ICT, energy, road infrastructure, and green development projects in the region.
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