IBM (NYSE: IBM) said it is making up to $2 billion available to finance IT initiatives supported by federal stimulus spending, including smart grid projects.
IBM Global Financing, the lending and leasing business segment of IBM, said the move will help US organizations move ahead with IT projects in key stimulus areas identified in the American Recovery and Reinvestment Act (ARRA)–smart grid, health information technology and broadband access.
"In order to fast track our nation’s recovery, there needs to be an increased focus on public and private partnerships," said John Callies, general manager of IBM Global Financing. "This financing program is intended to help seed projects of the future that will improve citizen services and ultimately aid in our nation’s economic resurgence."
IBM said the bulk of the financing will come in the form of flexible payment options, reduced fees and low-rate loans.
The company is already working on more than 50 smart grid projects arround the world and is working with healthcare providers to develop more efficient practices.
IBM alos is working to build Broadband over power line (BPL) networks. The technology modifies radio signals to transmit voice and Internet data over electric utility power lines, and is ideal for rural areas where broadband access currently does not exist.
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