Fust now worth US$1.26bn

The Brazilian government's universal access fund Fust ended 2004 with a total accumulated value of 3.3bn reais (US$1.26bn), a spokesperson for telecoms regulator Anatel told BNamericas. Fust is part of the government's digital inclusion policy to take internet access to low-income groups, schools, hospitals, libraries and remote locations. Operators started paying into the fund in January 2001. All Brazilian telecom operators have to contribute to the fund by making monthly payments equivalent to 1% of their revenues. Anatel is responsible for collecting the contributions. "The money could have been used for government programs like PC Connected or the ongoing digital inclusion projects but until today the government has not touched it," the Anatel spokesperson said. The fund has been locked due to conflicting legal interpretations about how to use its resources, local daily Estado de São Paulo reported in October 2004.