ADFIAP TRIGGERS AN EQUAL OPPORTUNITY PROCESS FOR THE E-HUB OF THE WORLD

The Association of Development Financing Institutions in Asia and the Pacific (ADFIAP), representing more than 150 countries, launched a global Request for Proposal (RFP) process on behalf of GCEL to select academic, public, and technology partners for the E-Hub of the World.

The E-Hub of the World will maintain and enhance the Digital Economy Platform, lead technology research and development, and provide continuous free access to end users under international immunity protections.

The agreements were signed in Manila, Philippines, by ADFIAP Secretary General Octavio B. Peralta and GCEL Deputy Secretary General Gregory D. Bird.

The Digital Economy Platform is projected to reduce annual trade costs by USD 700 billion, increase trade by USD 1.2 trillion, create a USD 6 trillion services market opportunity, and generate 100 million jobs. Academic partners could access nearly USD 15 billion in R&D funding and an equity endowment projected to reach USD 61 billion by 2025, while government and technology partners could benefit from billions in annual tax revenues and approximately 400,000 jobs.

ADFIAP highlighted its previous collaboration with GCEL, including support for the Global SME Fund, which is projected to reach nearly USD 1 trillion by 2025 and improve financing access for millions of SMEs. The E-Hub of the World will work with the world’s leading technology firms to deliver advanced Digital Economy tools through mobile and tablet platforms at no cost to end users.