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Speaking at the 8th Tokyo International Conference on African Development (#TICAD8) Business Forum in #Tunisia, African Development Bank President Akinwumi Adesina urged Japanese businesses to increase investments in Africa, where opportunities and returns on investment are among the highest in the world.
Adesina commended the Japanese government and private sector for their strong support for the continent’s development and told Japanese businesses to assess Africa’s investment opportunities based on facts and evidence, and not on perceptions.
WATCH the Bank president’s full statement here.
On social media (LinkedIn): From Aug. 29 (unedited)
Japan – The Government of Japan and the African Development Bank announce up to $5 billion in support of Africa’s private sector development under the fifth phase of the Enhanced Private Sector Assistance for Africa initiative (EPSA 5) over 2023 to 2025.
The funding consists of $4 billion under the existing window, and up to an additional $1 billion under a new Special Window that #Japan will establish to provide financing to countries that are making progress in the enhancement of debt transparency and sustainability, and other reforms.
Speaking at the EPSA 5 launch ceremony, Mr. Masato Kanda, Japan’s Vice-Minister of Finance for International Affairs, noted that given the importance of food security, Japan and the African Development Bank would also add #agriculture and nutrition as a priority area under EPSA 5.
Japan International Cooperation Agency (JICA) President, Dr. Akihiko Tanaka, said, “Under the severe situation caused by multiple compound crises, enhancing resilience and promoting human security are critical components.
“EPSA is an essential element of our partnership with the African Development Bank to tackle social and economic challenges. With the recognition of importance of solidarity, JICA commits to work with EPSA to create a bright and prosperous future. ”
“EPSA 5 is the kind of cooperation Africa and the world needs, said African Development Bank President Dr. Akinwumi Adesina. “Escalating climate change impacts, the #Covid19 pandemic, and the war in Ukraine means that we must do even more than we already have done, to mobilize the private sector and create job opportunities in Africa. The newly signed initiative will positively impact millions of lives across Africa.”
More on how Japan and the African Development Bank will join forces to support countries in addressing food security, climate change, health, digitalization, and debt issues: https://bit.ly/3PXNXA6