Japan pledges funds for infrastructure devt in Africa

By Stanley Wabomba

Japan will commit 3 trillion shillings in public and private support for infrastructure development in Africa.

Japan’s Prime Minister Shinzo Abe told the sixth Tokyo International Conference on African Development-TICAD that the package includes one trillion shillings for infrastructure projects, to be executed through cooperation with the African Development Bank.

President Uhuru Kenyatta termed the meeting taking place in Nairobi as a collective ambition to build shared prosperity for all Africans.

At least 34 heads of state and government from across Africa attended the official opening of the sixth Tokyo International Conference on African Development-TICAD.

This includes one trillion shillings that will be executed through cooperation with the African Development Bank.

The money will go towards improving labor productivity and healthcare. Abe says the latest investment underscores the faith that Japan has in Africa’s future, an investment for Japan and Africa to grow together.

Today’s cash pledge in addition to the 3.2 trillion shillings that Japan pledged to Africa over a five-year period at the last TICAD meeting in 2013. Abe said 67 percent of that had already been put to use in various projects.

President Kenyatta said the meeting in Nairobi for development talks signals the collective ambition to build shared prosperity for all Africans.

The President said the meeting is part of the response to Africa’s need for competitive business environments, deepening of regional integration and better infrastructure among other goals.

President Kenyatta said the increased urgency to achieve the development objectives of Africa has been the reason commitments made at previous TICAD meetings have been implemented.

 

  

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