Sure, a telecommunications operator, will start deploying Guernsey Fibre in 2022.
Guernsey’s States will contribute up to £12.5 million to the £37.5 million projects, which was approved on Friday.
Sure CEO Justin Bellinger said it demonstrated the island’s ability to “compete in the digital age on an international scale”.
Faster internet connections, according to Deputy Peter Ferbrache, president of the policy and resources committee, are “crucial” to the island’s enterprises.
He added that this was especially true during and after the outbreak.
Sure has begun the hiring process for new staff to assist with the project’s implementation now that money has been agreed upon.
Deputy Neil Inder, president of the committee for economic development, said this “significant investment” will allow local businesses to confidently expand their digital capabilities.
Deputies adopted a policy document outlining financial support in order to speed up the rollout on Friday.
On Tuesday, the commercial trial will begin, and some consumers will be contacted to learn when they will be able to acquire fibre service.