Japan pledges $30 billion for Africa’s development over next 3 years: PM Kishida

Tokyo: Japan will provide $30 billion for the development of African countries over the next three years, Prime Minister Fumio Kishida said on Saturday.

“Japan pays great attention to such areas as ‘investment in human resources, ‘quality of growth’ therefore, the government and business will jointly invest (in Africa) a total of USD 30 billion over three years. Africa is a young, hopeful, dynamic continent. Japan would like to become a partner that is developing together with Africa,” Kishida said in an online address at the 8th Tokyo International Conference on African Development (TICAD) that is taking place in Tunisia from August 25-29.

In particular, USD 4 billion will be spent on the development of green technologies, USD 5 billion will be spent on promoting reforms to improve the debt of African countries, as well as on investments in support of start-ups, on training 300,000 specialists in the field of industry, healthcare, education, agriculture over three years. A USD 300 million loan will be allocated to strengthening the food production system.

Initially, Kishida was expected to be present at TICAD, but the head of the Japanese government tested positive for the coronavirus and has to be in self-isolation until August 31.

TICAD was launched by the Japanese government in 1993 and has been co-hosted by the United Nations, the United Nations Development Programme, the World Bank and the African Union Commission (AUC). The international forum focuses on the development needs of the African continent and promotes regional development, peace and security. The conference in Tunisia will be the second TICAD conference held in Africa; the first one was held in Kenya in 2016.