IBM offers $1b Asian IT stimulus financing

IBM is making up to $1 billion available to finance IT projects in Asia-Pacific.

The funding, for areas such as smart grid and healthcare, is part of a $5 billion worldwide package, IBM said.

It announced a $2 billion package for the US on April 30 and another $2 billion yesterday for European projects.

IBM said it would target countries that already have government stimulus programs and would help businesses move ahead with projects waiting on funding.

The financing would be for projects containing a “majority portion” of IBM hardware, software or services.

“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 rise from this global downturn together,” said John Callies, IBM Global Financing general manager.

He said the company had been helping local governments and enterprises build out smart grid, health IT and smart transportation infrastructures.

The bulk of the $5 billion will be for financing for smart technology projects. The financing could be in the form of flexible financing options, deferred payment plans or structured lines of credit or specialized project financing.