NAIROBI: Japan’s Prime Minister Shinzo Abe told African leaders Saturday that his country will commit $30 billion in public and private support for infrastructure development of the continent. Abe, in the Kenyan capital Nairobi to attend the sixth Tokyo International Conference on African Development (TICAD), said the package would be spread over three years from this year and include $10 billion for infrastructure projects on the continent, to be executed through cooperation with the African Development Bank. The $30 billion announced on Saturday is in addition to $32 billion that Japan pledged to Africa over a five-year period at the last TICAD meeting in 2013. Japan’s overall direct investment in Africa totalled $1.24 billion in 2015, down from about $1.5 billion a year earlier, according to the Japan External Trade Organization.
Published in The Express Tribune, August 28th, 2016.
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