Japan pledges $32 billion aid for Africa to boost investment
6/1/2013 6:20:01 AM
Japan pledged African leaders a $32 billion in public and private support on Saturday to help growth on the continent and encourage Japanese firms to invest there over the next five years.
The package, unveiled by Prime Minister Shinzo Abe at the opening of the Tokyo International Conference on African Development (TICAD), includes $14 billion official development aid and $6.5 billion support to help infrastructure.
Resource-poor Japan has long been keen on Africa's vast natural resources, even more so since dependence on oil and gas imports surged after the March 2011 Fukushima nuclear disaster shut almost all of Japan's nuclear reactors.
The package, unveiled by Prime Minister Shinzo Abe at the opening of the Tokyo International Conference on African Development (TICAD), includes $14 billion official development aid and $6.5 billion support to help infrastructure.
Resource-poor Japan has long been keen on Africa's vast natural resources, even more so since dependence on oil and gas imports surged after the March 2011 Fukushima nuclear disaster shut almost all of Japan's nuclear reactors.