31 May '13, 3am

Japan to offer US$10b aid to Africa: Japanese media

Japan to offer US$10b aid to Africa: Japanese media

TOKYO: Japan is to pledge at least $10 billion in aid to Africa for the next five years, reports said Friday, as Tokyo prepared to host a major development conference for the resource-rich continent. Coupled with expected corporate investments, Japan's 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. Prime Minister Shinzo Abe will announce the government's 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. The three-day, five-yearly conference will kick off Saturday in Yokohama, south of Tokyo, with leaders of more than 40 African countries and senior figures from international organisations expected ...

Full article: http://www.channelnewsasia.com/news/business/internationa...

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