By Ali BakhshadovBaku, Azerbaijan (Reuters) – Belarus’ online revolution begins in the form of a $1 billion investment in the country’s online video service Moldova.
The Belarus government has set aside a whopping $25 billion to fund the digital revolution that has already seen the country overtake Russia as the world’s most-popular country online.
The new funding will come from Belarusian state bonds, which were sold last week for the first time since 2015 and have now been backed by $3.4 billion in foreign investment.
Moldova, whose digital revolution is already bearing fruit, will get $3 billion in the first phase of the Moldova-Belarus deal.
Moldingova, a former Soviet republic of more than one million people, has been a hotbed of Internet innovation, attracting international companies and media moguls.
In 2016, Moldova was ranked as the second-most-visited country in the world on Google’s “most visited” list.
The Moldovan government announced the initial funding of $1.9 billion on Monday.
The announcement of the deal comes at a crucial time for Moldova’s economy.
Its economy was hit by the collapse of the countrys last bailout deal in 2016.
It is now facing another round of budget cuts and economic uncertainty.
The budget cuts are expected to hit the Moldovan budget, which is expected to shrink by 6.8 percent this year and by 8 percent next year.
Belarus is likely to take a similar tack.
Baku was one of the first countries to take part in the Moldovans digital revolution.
In January, Moldovan state television showed people making videos in a public space.
The new service was launched last week, and Moldova is now the only country in Europe that has adopted the service.
Molds president, Ilia Yerli, said in a statement that Moldova had shown that it is ready for the next stage of the Internet revolution.
“The new platform will be developed and launched in a coordinated way with our partners and partners in the international community, who will support it with their support,” Yerlo said.MOLDOVA INTERNET THE NEXT STEP FOR BELARUS Internet revolution Belarusian authorities are hoping the Molduan government will be able to sustain the development of its Internet platform for years to come.
Mauldas President Iliayar Boiko said in March that the next step for Belarus’ Internet revolution is to establish a national Internet service provider.
The government is expected, however, to follow up with a decision on that next step this year.
The Internet revolution has been underway for more than a decade in Belarus, with a focus on fostering innovation, competition and quality.
The country has also emerged as a top global destination for foreign investment, with foreign companies making a number of deals in recent years.MOST-USED COUNTRYS ONLINE FOR BUSINESS VIDEOS BANJUL, Kyrgyzstan — Baku Internet magazineBaku.
Com, a publication that focuses on the online world of online shopping, has announced a $10.8 million investment in Moldova to develop its online shopping portal.
Macedonia has also invested in the platform, Moldavias largest online shopping marketplace, according to a statement from the Moldavian government.
The MSCI Moldova index rose by 2.7 percent in February.