Japan To Invest $30bn For Africa’s Infrastructure, Education, Healthcare

April 15, 2023 11:42 am9 commentsViews: 111

Japanese Prime Minister Shinzo Abe announced to be investing about $30 billion in Africa for the development of infrastructure, education and healthcare.

Japan To Invest usd30bn For Africa's Infrastructure, Education, Healthcare

In the 2011 earthquake Japan’s Fukushima nuclear plants were damaged leading to the shutdown of those and thereafter increasing the import of oil and natural gas.

Abe was in the Kenyan capital Nairobi today attending the 6th Tokyo International Conference on African Development (TICAD). More than thirty heads from across the continent were present.

He said the $30 billion package would include $10 billion for infrastructure projects. The investment would be spread in the period of three years and to be executed through cooperation with the African Development Bank.

Abe added the investment to have faith in the future of Africa.

In the 2013 TICAD meeting Japan pledged to be investing $32 billion to be spread over a period of five years and 67 percent of the fund has already been investment in various projects. Today’s announcement is an additional investment.

Abe mentioned, “Today’s new pledges will enhance and further expand upon those launched three years ago. The motive is quality and enhancement.”

Last year the total investment of Japan in the continent was $1.24 billion.

Meanwhile, it is not to forget the $2 billion of single investment of China in oil-rich Equatorial Guinea last year.

Share your own views whether Japan will benefit more from Africa in comparison to China with us and fellow readers in the below given comment box.

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