{{Japan is to pledge at least $10 billion in aid to Africa for the next five years, reports said on Friday, as Tokyo prepared to host a major development conference for the resource-rich continent.}}<\/p>\n
Coupled with expected corporate investments, Japan\u2019s public and private sectors look set to pour around three trillion yen ($30 billion) into Africa by 2018, as Japan Inc. rushes for a piece of the promising African market, the Nikkei said.<\/p>\n
Prime Minister Shinzo Abe will announce the government\u2019s official development aid worth at least one trillion yen ($10 billion) at the Tokyo International Conference on African Development (TICAD), the business daily and the Sankei Shimbun said.<\/p>\n
The three-day, five-yearly conference will kick off on Saturday in Yokohama, south of Tokyo, with leaders of more then 40 African countries and senior figures from international organisations expected to be present.<\/p>\n
Despite relatively long-standing connections, Japan\u2019s importance to Africa has slipped behind that of China, whose more aggressive approach has given it five times the trading volume and eight times the direct investment.<\/p>\n
At the forum, Japanese officials will stress the need to boost trade and investment between the world\u2019s third largest economy and Africa, in a bid to transform the relationship from an aid-led one to a business partnership.<\/p>\n
In addition to the aid, the Japanese government will also double to 500 billion yen a fund earmarked for providing loan guarantees and investment for infrastructure and resource development projects tied to Japanese firms, the Nikkei said.<\/p>\n
Earlier this month Abe pledged he would travel the world to promote Japanese road, rail and power grid technology in a bid to treble infrastructure exports to 30 trillion yen a year by 2020 as he seeks to jumpstart Japan\u2019s slumbering economy.<\/p>\n
{AFP}<\/p>\n","protected":false},"excerpt":{"rendered":"
{{Japan is to pledge at least $10 billion in aid to Africa for the next five years, reports said on Friday, as Tokyo prepared to host a major development conference for the resource-rich continent.}} Coupled with expected corporate investments, Japan\u2019s public and private sectors look set to pour around three trillion yen ($30 billion) into […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[100],"byline":[170],"hashtag":[],"class_list":["post-8159","post","type-post","status-publish","format-standard","hentry","category-business","tag-africa","byline-igihe"],"bylines":[{"id":170,"name":"IGIHE","slug":"igihe","description":"","image":{"id":0,"url":"https:\/\/secure.gravatar.com\/avatar\/?s=96&d=mm&f=y&r=g","alt":"Default avatar","title":"Default avatar","caption":"","mime_type":"image\/jpeg","sizes":[]},"user_id":8}],"contributors":[{"id":170,"name":"IGIHE","slug":"igihe","description":"","image":{"id":0,"url":"https:\/\/secure.gravatar.com\/avatar\/?s=96&d=mm&f=y&r=g","alt":"Default avatar","title":"Default avatar","caption":"","mime_type":"image\/jpeg","sizes":[]},"user_id":8}],"featured_image":null,"_links":{"self":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/posts\/8159","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/comments?post=8159"}],"version-history":[{"count":0,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/posts\/8159\/revisions"}],"wp:attachment":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/media?parent=8159"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/categories?post=8159"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/tags?post=8159"},{"taxonomy":"byline","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/byline?post=8159"},{"taxonomy":"hashtag","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/hashtag?post=8159"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}