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Home International Customs

Japan announces $30 bln investment in Africa as TICAD begins

byCT Report
27/08/2016
in International Customs, Japan
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TOKYO: Prime Minister Shinzo Abe pledged Saturday that Japan will mobilize a total of $30 billion in private- and public-sector funds to invest in Africa over three years to boost infrastructure building in the resource-rich continent. Abe unveiled his country’s fresh financial assistance for Africa at a Japan-led African development conference that convened in the Kenyan capital Nairobi the same day. It is the first time the gathering, the Tokyo International Conference on African Development, has been held outside Japan.

With an eye to strengthening the region’s potential in the fields of manufacturing and health care, Abe said in a keynote speech at the start of the two-day meeting that Japan will “empower 10 million people (to work toward an) Africa, which has high-quality (economic and social infrastructure) and is strong and stable.” Japan is banking on its strengths in quality infrastructure development and training of human resources to promote Japanese businesses there, an apparent counterpoint to China’s expanding influence in Africa.

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In recent years, Beijing has been offering its own massive aid packages to the region. “Japan will nurture 20,000 experts and policymakers to tackle infectious diseases in three years,” Abe also said, referring to the region’s fight against diseases, such as the outbreak of Ebola. Regarding security in the Pacific Ocean and Indian Ocean, Abe made clear Japan’s commitment to it, saying, “What connects Asia and Africa is the sea.” “Japan will nurture, without any pressure, (the area covering Asia to Africa) into a place that puts importance on the rule of law and a market economy,” he said.

For Japan, Africa is vital, economically and politically, given the region’s vast market and clout in the United Nations, Japanese officials say. There are over 50 countries in Africa, making up a large voting bloc in the world body. Tokyo aims to gain support from African countries in its bid to be a permanent member of the Security Council, while South Africa, one of the largest economies in Africa, is also seeking a permanent seat on the council.

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