Japan, AfDB Launch $5.5bn Funding Package for Africa at TICAD 9
Japan and the African Development Bank (AfDB) have unveiled a $5.5 billion financing framework designed to accelerate sustainable development and infrastructure growth across Africa.
The initiative will be implemented through the Japan International Cooperation Agency’s (JICA) private sector investment financing, which is expected to act as a catalyst for unlocking wider opportunities on the continent.
Japanese Prime Minister Shigeru Ishiba made the announcement on Wednesday during the opening session of the 9th Tokyo International Conference on African Development (TICAD9), currently taking place in Yokohama.
Highlighting Japan’s development priorities for Africa, Ishiba stressed the importance of mutual respect, locally driven solutions, and collaborative approaches. He said Japan’s support would focus on private sector-led sustainable growth, the empowerment of women and youth, and regional integration.
“Japan is providing various cooperation and support for Africa. But first of all, Japan needs to know more about Africa. So, in creating solutions together, this co-creation at the TICAD 9, we focus on three important areas: private sector-led sustainable growth, Youth and Women, and regional integration and connectivity within and beyond Africa,” Ishiba stated.
