World Bank plan to empower digital industry

Mobile Internet
Ecosystem Project announced

The World Bank has approved a new project to support the local telecommunications sector. The Mobile Internet Ecosystem Project (MIEP) is expected to be launched once the new Cabinet is formed, said Rami Majzoub, Advisor to the Ministry of Telecommunications (MoT).

The project aims to strengthen innovation and entrepreneurship in the mobile Internet sector in order to develop international competitiveness. “It is a very strategic approach from the World Bank that will be testing the project as a pilot phase in the local market, before spreading it in other countries in the Middle East,” Majzoub said.

The growing local digital infrastructure and the increasing initiatives in the sector will be combined through the MIEP in order to strengthen the positioning of the local ICT sector

The overall budget dedicated to the project is $12.8 million. Half of the budget is provided by the World Bank through a Specific Investment Loan. The Lebanese government will provide the rest of the required funding.

The MIEP is the result of more than a year and a half of studies and preparation, where all digital community stakeholders participated with their ideas.

The project comprises three main components. The first component aims to increase entrepreneurial skills and training of the Lebanese talent pool to attract it to this industry. The second component is designed to develop innovation networks in the digital industry, and increase its competitiveness. A third component will assess the local market to identify areas for improvement and help the government implement reforms.

The project will create a Mobile Innovation Hub, ‘MiHub’, which will serve as catalyst for innovation among stakeholders.