Govt. releases $4 billion broadband stimulus; sets grant guidelines | TopNews United States

According to the Network World, in the first round of allocation of the earmarked $7.2 billion broadband stimulus package, over the next two years, the Obama administration Wednesday released $4 billion to pay for broadband projects.

Of the total stimulus funds, $4.7 billion has been allotted to the National Telecommunications and Information Administration (NTIA) for awarding grants to projects developing broadband infrastructure in un-served or under-served areas; and the remaining $2.5 billion has been allotted to the Department of Agriculture (USDA) for advancing loans to companies developing broadband infrastructure in rural areas...