The European Commission has confirmed £90 million in funding to support the Superfast Cymru project.
Fibre broadband will be delivered to 95 per cent of Welsh properties over the next three years under the £425 million initiative.
And finance from the European Union will help support the rollout of super-fast services in western parts of Wales and the valleys, reports the BBC.
"Projects like this will have huge benefits for businesses and citizens," said Johannes Hahn, European Commissioner for Regional Policy.
"This initiative in particular will allow Wales to seize the opportunities offered by the digital economy."
Mr Hahn said fast and reliable access to the internet will play "a vital role" in helping digitally-challenged regions in their economic development.
Download speeds of up to 80Mb will become widely available in Wales under the Superfast Cymru project, with 330Mb speeds available on-demand in some areas.