IBM is making up to US$3 billion available to finance IT initiatives in key economic stimulus projects in Europe and Asia-Pacific. The money will be made available through IBM Global Financing, IBM’s lending and leasing business segment. This follows the availability of up to US$2 billion announced by IBM on April 30 to help jump start US economic stimulus programs.

Specifically, the organisation will make available up to US$2 billion in financing in Europe and up to approximately US$1 billion in the Asia-Pacific region

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

John Callies, General Manager of IBM Global Financing, commented, “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. In this context, IBM Global Financing is extending its stimulus financing program to countries in Europe and Asia-Pacific to help global recovery.”