IBM said that it will make up to $3 billion available to finance IT initiatives in key economic stimulus projects in Europe and Asia-Pacific through IBM Global Financing, the company’s lending and leasing business.
The company has announced the availability of up to $2 billion on April 30 to help start US economic stimulus programmes.
According to IBM, it will make up to $2 billion in financing in Europe and up to $1 billion in the Asia-Pacific region. IBM Global Financing also expects to extend its North American coverage to include financing for Smart technology projects in Canada.
The bulk of $5 billion will be for financing for smart technology projects for credit-qualified clients. The company mainly targets enterprises and municipalities looking to implement technology projects consisting of IBM hardware, software and technology services components. Financing is also applied to non-IBM technology as part of a larger IBM solution.
John Callies, general manager of IBM Global Financing, said: While the various stimulus packages in different countries were designed to keep their own economies on track, it is as joined economies that we can raise from this global downturn together. In this context, IBM Global Financing is extending its stimulus financing programme to countries in Europe and Asia-Pacific to help global recovery.
Governments around the world are also developing economic stabilisation measures to increase employment opportunities and stimulate their economies. The financing by IBM is expected to help organisations to improve technological and environmental infrastructure.
