Obama offers millions for Muslim tech fund

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    1.44 Member of The Month SEPTEMBER 2009 Senior Member

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    Obama offers millions for Muslim tech fund

    The White House on Friday highlighted a new multi-million-dollar technology fund for Muslim nations, following a pledge made by President Barack

    Obama in his landmark speech to the Islamic world.

    The White House said the US Overseas Private Investment Corporation (OPIC) had issued a call for proposals for the fund, which will provide financing of between 25 and 150 million dollars for selected projects and funds.

    The Global Technology and Innovation Fund will “catalyze and facilitate private sector investments” throughout Asia, the Middle East and Africa, the White House said. Eligible projects would advance economic opportunity and create jobs in areas like technology, education, telecoms, media, business services and clean technology, the White House said.

    OPIC said sample projects could help foster the development of new computer technology or telecommunications businesses, or widen access to broadband services. Proposals must be submitted by the end of November, and managers of funds that make a final short list will make presentations in January.

    In his speech to the Muslim world in Cairo last June, Obama argued that “education and innovation will be the currency of the 21st century” and that under-investment was rife in many Muslim nations.


    Obama offers millions for Muslim tech fund - US - World - The Times of India
     
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