Prime Minister Abe announced a 3.2 trillion yen (approximately 32 billion USD) aid, including Official Development Assistance of around 1.4 trillion yen and other public and private resources of around 16 billion dollars to support African growth through public-private partnership over the next five years.
Prime Minister Abe, who is co-chaired the Conference with Ethiopian Prime Minister Hailemariam Desalegn, said: “What Africa needs now was private-sector investment and that Public – Private – Partnership (PPP) leverages that investment”. He said this was the time to revolutionise the way of providing assistance to Africa.
While announcing the aid to Africa Prime Minister Abe said the assistance will go towards supporting development of infrastructure, human resources and improve basic services such as schools, education and security.
UN Secretary General Ban Ki-Moon said the TICAD agenda for Africa is in line with the UN agenda for the continent.
He commended Japan for the initiative and input in the Africa’s development, saying it will immensely contribute to development of the continent.