This component will aid in the creation of a favorable enabling environment for the region's digital economy, one that encourages competition, investment, and innovation while also fostering online transaction trust and security. It will focus on legal, regulatory, and institutional reforms to support modernization of the telecommunications and digital financial services sectors while mitigating growing risks of a digital economy, including cybersecurity and data protection and privacy.

This component aims to better equip individuals and businesses across the region for the jobs and economy of the future and to spur innovation and productivity growth through: designing and implementing a program to accelerate the adoption of digital technologies within important sectors (including tourism, agriculture, health, etc.) by providing

(i) managerial training, business advisory services

(ii) Matching grant and facilitating acceptance of electronic payments by merchants and promoting cash reduction in the economy.

(iii) acquiring digital devices and associated digital content and providing training to support access among vulnerable groups and remote learning by students.

Specific activities in this component could include Subcomponent 3.1: Workforce-Ready Digital Skills - This sub-component aims to identify the digital skills (technical and soft skills) in demand regionally and globally and to create a clear pathway of support from training to job placement in digitally enabled professions.

Subcomponent 3.2: Technology Adoption - This sub-component seeks to increase adoption of digital platforms and technologies by businesses across the region and support creation and expansion of digitally enabled businesses.