The Welsh Government has confirmed in its latest Infrastructure Investment Plan (IIP) that it will invest a total of £400 million in rolling out broadband to businesses and residents up until 2015.
This £400 million will include funding of approximately £57 million from the UK government and £70 million from European sources, with the rest coming from the Welsh Government.
Wales hopes to provide all residential premises and businesses with high-speed broadband by 2015, with half of these also having access to ultra-fast broadband. The report did not provide a definition of speeds between 'high-speed' and 'ultra-fast' broadband.
The report reads: "Businesses and the economy as a whole will benefit from the availability of competitive, flexible digital infrastructure."
"This investment in communications infrastructure will stimulate a thriving and competitive digital economy. It will support growth through wide-scale application, innovation, commercialisation and exploitation of digital technologies by Welsh businesses, and particularly the ICT and creative industries sectors."
Next Generation Broadband for Wales is the government's body for delivering broadband across the country, and is set to award a contract to an ISP for the entire rollout this summer.
The UK government has said that it hopes to have the best broadband network in Europe by 2015, and has committed a minimum of £730 million up until 2015 to support the rollout.