World Bank, partners announce new global fund for cybersecurity
The World Bank announced the launch of a new Cybersecurity Multi-Donor Trust Fund under the broader Digital Development Partnership (DDP) umbrella program.
Digital transformation is accelerating in many countries, offering new opportunities for economic growth and enabling low- and medium-income countries to leapfrog development through increased productivity and improved service delivery across key sectors, including finance, health, education, and agriculture. Embracing technological transformation has increased cyber risks and threats to digital infrastructure, services, and data, which rely on increasingly connected systems.
As digital transformation becomes essential to the functioning of states, economies, and societies, cybersecurity solutions must keep up. A partnership approach can help build trust, improve awareness, and deliver the technical solutions that countries require.
“COVID-19 has highlighted the vital role digital technologies and applications play in a resilient development agenda. It keeps people, businesses, and public services connected. As governments are rapidly scaling up their investments into digital technologies, cybersecurity has become a pressing concern to ensure a safe and secure digital transformation for all,” said Boutheina Guermazi, Director of the World Bank’s Digital Development Global Practice. “Fostering safe digital inclusion is of paramount importance for the World Bank’s work in helping countries reduce poverty, tackle inequality, and accelerate economic growth.”
The new fund aims to better define and systematically roll out the cybersecurity development agenda, helping to ensure a more substantial reflection of cybersecurity considerations across World Bank programs and financing. The work program will support the development of global knowledge on cybersecurity solutions for low- and middle-income countries. It will fund country maturity assessments, offer technical assistance, and support training and capacity development for cybersecurity staff in World Bank client countries.
The launch of the Trust Fund is made possible with donor contributions from Estonia, Germany, Japan, and the Netherlands.