IBM invests in European and Asian tech projects

IBM is hoping to accelerate economic stimulus packages around the world

IBM Global Financing is to invest $2bn (£1.25bn) in IT and environmental infrastructure projects in Europe, and around $1bn (£624m) in the Asia-Pacific region.

Financing in the UK will be concentrated on IT projects supported by the Strategic Investment Fund, revealed by chancellor Alistair Darling in his 2009 Budget speech in April, which focuses on carbon reduction projects, green technologies and innovation.

Ovum analyst David Mitchell suggested that the funding is a "bold move" by IBM to help accelerate stimulus packages.

"The recession is going to drive many organisations, public and private, to make transformational changes in their IT environment," he said. "However, without access to the correct financing offerings, a significant set of opportunities will be lost and society-wide projects will be substantially delayed."

IBM has already invested $2bn (£1.25bn) to help jumpstart US economic stimulus programmes in areas such as smart grids, health IT and smart transportation.

The money is available only to companies and organisations in countries where there is already government funding committed to creating new industries and enabling infrastructure improvements, IBM said.

The funding will be also be targeted at enterprises and municipalities looking at implementing projects using IBM hardware, software and technology services components, the company added.