US Announces $400 Million in Funding to Expand Internet Access to Rural Residents 4k6k69 Businesses

The funding will help provide high-speed Internet access to 31,000 rural residents and businesses in 11 states. 2n211f

By Reuters | Updated: 28 July 2022 17:08 IST

US Announces $400 Million in Funding to Expand Internet Access to Rural Residents, Businesses

Kamala Harris is traveling to New York to announce formation of the Economic Opportunity Coalition 393h2y

Highlights

Biden istration announces $400 million for rural Internet
This come as part of Biden's drive to expand access to the Web
Economic Opportunity Coalition includes 23 companies and foundations

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President Joe Biden's istration announced on Thursday that it will provide $401 million (roughly Rs. 3,195 crore) to provide access to high-speed Internet for 31,000 rural residents and businesses in 11 states, as part of Biden's drive to expand access to the Web.

"With this money we are one step closer to President Biden's ambitious goal of affordable and reliable Internet for all," Biden's infrastructure coordinator Mitch Landrieu told reporters.

At the same time, Vice President Kamala Harris is travelling to New York on Thursday to announce formation of the Economic Opportunity Coalition, a coalition of 23 companies and foundations, with the aim of investing billions of dollars into low-income communities.

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The aim of the group, the White House said, will be to "address economic disparities and accelerate economic opportunity in communities of colour and other underserved communities."

The White House said founding of the coalition include Ariel Investments, Bank of America, BNY Mellon, Capital One, Citi, Discover, Ford Foundation, Goldman Sachs, Google, Key Bank, Kresge Foundation, Mastercard, McDonald's, McKinsey & Company, Micron, Momentus Capital, Moody's, Netflix, PayPal, PNC, The Rockefeller Foundation, TIAA, and Upstart.

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The $401 million in loans and grants comes from the ReConnect Programme, a fund dispersed by the US Agriculture Department. It will high-speed Internet projects in Alaska, Arizona, Arkansas, California, Colorado, Idaho, Montana, New Mexico, Nevada, North Dakota and Texas, USDA said.

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