The Japanese Prime Minister Shinzo Abe announced the five-year development aid package for Africa on Saturday while officially opening the 5th Tokyo International Conference on African Development (TICAD V) at Intercontinental Hotel in Yokohama, Japan.
“Over the next five years, Japan will support African growth of public and private sectors with a total sum of about US$32billion, including Overseas Development Assistance of approximately US$ 14 billion, to boost tourism, trade and investment of private sector and promote human security through Japan’s unique assistance”, Abe said.
The Prime Minister underscored the need for Africa to embrace private- public partnerships. “If we recognise this as a new reality, then it will be necessary to revolutionise the African economic recovery”, he said.
Abe said despite the tough economic times, Japan, the second largest contributor to the World Bank has continued supporting Africa, saying Japan has never doubted Africa’s potential.
The Prime Minister also lobbied for the African support to host the 2020 Olympic Games.
The Japanese Director for Country Planning Division III in-charge of Africa, Middle East and Europe Ms Yoshiko Kijima said the huge amount of money to African countries comprises of grants, loans and technical assistance.
“The priority areas for this assistance will be infrastructural development, economic development, vocational training, agricultural modernisation as well as ensuring peace and stability in Africa”, Kijima told the press.
Speaking at the same gathering, Ugandan President Yoweri Museveni said lack of infrastructure and high production costs hampered investment in Africa.