The World Bank has teamed up with Gemalto, a digital security company, by signing a Memorandum of Understanding to help third world countries by the use of innovative information and communication technology (ICT). The concept underlying this venture is that digital technology can help solve some of the most pressing problems for Africa and other third world and developing nations. Both the World Bank and Gemalto are trying to use digital technology to also help with education, healthcare, governance and sustainable rural development. This partnership is part of the World Bank's new eTransform Initiative.