A thriving digital economy fuels job creation, fosters innovation, and accelerates sustainable development. To achieve these goals, the Bank collaborates with client countries on the development of domestic and export-oriented IT product and service industries and integration of data-driven IT solutions in non-IT industries and smart infrastructure. Supported activities include developing national digital economy strategies, building modern institutions and governance mechanisms, strengthening policy, regulatory and enabling environment, creating startup ecosystems and upskilling. These efforts lead toward a vibrant ICT industry and better jobs.
The Bank is also enabling the development of smart infrastructure that relies on convergence of operational and information technologies, which can be broadly defined as smart industry and smart infrastructure such as smart grids, smart cities with digital urban management, and e-mobility solutions like intelligent transport systems, GIS for mapping, and autonomous driving. Additionally, efforts focus on initiatives such as smart industry, smart agriculture, and smart water management, as well as fostering green growth industries by introducing solutions to improve emission tracking and carbon exchange.
By promoting fintech development, digital trade, and e-commerce, the World Bank aims to harness the power of the digital economy to drive global prosperity.