In this undated file photo, the European Union flags in front of EU headquarters in Brussels, Belgium. (PHOTO / XINHUA)
SUVA – The European Union (EU) has pledged 18 million Fijian dollars (around $8.1 million) for the next three years to support the growth of inclusive digital economies in the Pacific region through a partnership with the UN Capital Development Fund (UNCDF).
This financial support will focus on economic development in the Pacific through the Pacific Digital Economy Program (PDEP), according to Fiji Broadcasting Corporation on Thursday.
UNCDF said this program will focus on addressing four key market challenges, including enabling policies and regulations, promoting inclusive innovation, creating open digital financial ecosystems and empowering customers
The program will provide the digital foundation for initiatives that promote access to and usage of inclusive digital services and solutions, and enhance digital literacy and education.
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UNCDF Regional Lead for the Pacific Region Neha Mehta said on Thursday that this program will focus on addressing four key market challenges, including enabling policies and regulations, promoting inclusive innovation, creating open digital financial ecosystems and empowering customers.
"PDEP aims to create inclusive digital economies and is an accelerator for growth, innovations and jobs for the Pacific islanders," she said.
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The Pacific countries such as Fiji, Samoa, Vanuatu, and Tonga will benefit from the initiative, which is jointly implemented by UNCDF, the UN Conference on Trade and Development (UNCTAD) and the UN Development Program (UNDP).