The Government of Japan has signed with the African Development Bank a $300 million agreement, to support a program which aims to boost private sector in Africa. This new funding brings to $1.5 billion Japan’s commitments with the AfDB, in the framework of this program.

“Japan is a strategic partner for the AfDB and major actor in Africa’s trade sector. Your support to the private sector, the development of infrastructures and co-financing, has enabled us to increase our support to the private sector,” said Charles Boamah, one of the Vice Presidents of the multilateral financing institution.

The announcement is taking place on the sidelines of AfDB’s annual meetings which is being held in India. The meetings will help strengthen economic ties between India and Africa, in the field of agriculture, particularly.

Similarly to India and China, Japan is reinforcing its positions in Africa with the collaboration of institutions such as the AfDB, but also via foreign direct investments. In 2016, during the Tokyo Conference on Africa's Development held in Nairobi, Kenya, Japan committed to injecting up to $3 billion for the development of the African private sector.

Idriss Linge