IBM funds $1 billion for APAC IT Projects

IBM announced up to $3 billion funds 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 segment.

Specifically, it will make available up to $2 billion in financing in Europe and up to $1 billion in the Asia-Pacific region. IBM Global Financing also will extend its North American coverage to include financing for smart technology projects in Canada, according to a statement.

The stimulus financing will mainly target enterprises and municipalities looking to implement technology projects consisting of a majority portion of IBM hardware, software, and technology services components. Financing also can be applied to non-IBM technology as part of a larger IBM solution.

The financing will help organizations move ahead with IT projects in 2009, while awaiting government funding, to build the technological and environmental infrastructure of the 21st century.

The financing could be in the form of:

* Low rates and flexible financing options

* Deferred payment plans

* Enterprise financing facilities that offer structured lines of credit

* Specialized project financing packages that allow clients to align payment streams to anticipated benefits throughout the project

The recession is going to drive many organizations, public and private, to make transformational changes in their IT environment. However, without access to the correct financing offerings, a significant set of opportunities will be lost and society-wide projects, like smart grid, will be substantially delayed," said David Mitchell, SVP of UK-based IT research firm, Ovum.

It must be recalled here that IBM China Research launched a new industry solution lab in China focusing on the development of healthcare IT solutions and released four software packages that could help hospitals establish electronic patient records at reduced costs, last month. The Chinese government has announced a plan to invest CNY 850 billion over the next three years to provide every village with a medical clinic and at least one hospital for every county by 2011. The plan includes funding for electronic patient records systems that can be shared by different hospitals around the country.

CXOtoday