26 May 2008
Yokohama — The Japanese government plans to provide African countries, over the next five years, with grants and soft loans amounting to over six billion US dollars.
This pledge is to be formally announced by Prime Minister Yasuo Fukuda during the fourth Japan-Africa summit (TICAD) which begins in Yokohama on Wednesday.
The Japanese government has invited Mozambican President Armando Guebuza to make the keynote speech at the summit, in the name of the entire African continent. Guebuza will be accompanied by a delegation that includes Foreign Minister Oldemiro Baloi, and the Ministers of Planning and development, Aiuba Cuereneia, of Public Works, Felicio Zacarias, of Science and Technology, Venancio Massingue, of Education, Aires Aly, and of the Environment, Alcinda Abreu.
According to reports in the Japanese press, Japan plans to provide grants of 260 billion yen (about two billion dollars) for Africa, and will set up a fund of 415 billion yen, to sustain a line of credit that will finance a range of socio-development projects.
The line of credit will be managed by the Japanese International Development Bank, and it will allow a doubling a Japanese investment in African development. The priority for this aid will be infrastructures such as roads, bridges, schools and hospitals.
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