M a r k e t N e w s

Japan to offer high quality infrastructural development support to Africa at TICAD summit

Posted on : Tuesday, 16th August 2016

Japanese Prime Minister Shinzo Abe will attend the 6th Tokyo International Conference on African Development (TICAD) in the capital city of Nairobi for the two-day conference, which will mark the first time summit to be held in Africa, sources close to the prime minister confirmed Tuesday.
The external link of TICAD was launched by the government here in 1993, with the previous five related events also held in Japan aimed at planning means to offer infrastructural development based on superlative quality that taps into the county's high technology.
At the conference in Nairobi, the high-level policy dialogue which will be held with African leaders and Africa's development partners will traverse issues of economic development and investment, as well as those related to trade and sustainable development.
Human security, peace and stable governance are also topics that will be addressed at the upcoming conference, sources with knowledge of the matter said.
"Being a multilateral partnership, the TICAD process also actively promotes South-South and triangular cooperation, in addition to traditional cooperation," according to an official statement from the multilateral partnership organization.
At the conclusion of the two-day conference a declaration will be made that will refer to the region's high and ongoing potential for economic growth and touch upon issues of counter-terrorism.
Local media here said Tuesday a sizable Japanese business delegation will also attend the conference with the aim of boosting corporate investment into infrastructural projects in Africa.
Japan has previously pledged 32 billion U.S. dollars over five years since 2013, for infrastructural and human resource needs, with the funds being made based on a principle of "Africa ownership" and international partnership.

Japan has also distributed some 3.5 billion U.S. dollars in ODA, which is the equivalent to around 25 percent of the 14 billion pledged at the conference three years ago, which was held in Yokohama. 

Source : news.xinhuanet.com
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