Intel has partnered with the World Bank to invest in technology companies in developing nations.
The World Bank's private sector lending arm, International Investment Corp. and Intel Capital have joined to fuel growth and investment in developing nations by investing in technology firms.
According to an article on NEWS.GNOM.ES, the two organisations will work together to identify investment opportunities in countries in Africa and Asia.
"What we're looking at is venture and growth capital investment, primarily with equity, so companies grow without being concerned about having immediate pay-back. One of the key reasons for the Intel partnership is we're looking for those markets that don't have that much venture and growth capital yet," said Kent Lupberger, global head of technology, media and telecoms at IFC.
He said a majority of investments will be broadband, data center and IT service companies. The IFC, which invested around $19 billion in fiscal 2011, plans to invest an additional $700 million over a period of two years.
Technology firms in India and China will also be possible targets under the Intel-World Bank partnership along with companies in African nations.