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Japan vows $30 bn over next 3 years for Africa
Japanese Prime Minister Fumio Kishida has pledged $30 billion over the next three years for African development, with a focus on investing in human capital and fostering quality growth in the continent.
In his online speech to the latest round of international conference on African development known as TICAD in Tunisia, Kishida stressed that Japan will grow together with Africa.
Specifically, Japan will extend loans worth around $5 billion in coordination with the African Development Bank to promote sustainable African development by restoring fiscal health, the prime minister said, as the two-day conference got under way in the Tunisian capital.
“Japan aspires to be a partner growing together with Africa. We will work together with Africa to overcome challenges in the region,” Kishida said in his speech.
“Japan will promote its initiatives with approaches quintessentially Japanese, focusing on people,” he said, adding that he wants to help realize a “resilient Africa that Africa itself aims to achieve.”
The gathering, the eighth of its kind attended by Japanese and African leaders, will cover a range of pressing issues confronting the continent, often called the last frontier for growth.
The agenda items include how to cope with the unfolding food crisis worsened by disrupted grain shipments and soaring food prices following Russia’s invasion of Ukraine, energy security and improving health care services as the COVID-19 pandemic continues.
Kishida said the rules-based, free and open international order should be maintained for global peace and prosperity, as he aims to deepen cooperation between Japan and Africa.
To support Africa, Japan will invest around $4 billion in achieving green growth through decarbonization and help Africa boost food production capacity and train people in agriculture as part of efforts to address the food crisis exacerbated by the Russian military operation in Ukraine, Kishida said.
As the COVID-19 pandemic has highlighted the need for better preparedness, the prime minister also said Japan will step up efforts for Africa to fight infectious diseases such as AIDS, malaria and tuberculosis and to bolster healthcare systems.
Japan has shifted the focus of its engagement with Africa over the years, from giving aid to increasing investment with the participation of the private sector, as the continent is seen as having growth potential with its increasing population.
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