100 Million US Dollar Japanese Loan for the African Private Sector
19 December 2013
Read by 1684 persons
As part of the Enhanced Private Sector Assistance (EPSA) initiative, Japan has granted the African Development Bank (AfDB) a loan of 9.48 billion Yen (approximately 100 million US dollars).
The exchange of notes was signed by the President of the AfDB, Donald Kaberuka, and the Japanese Ambassador to Tunis, Juichi Takahara, on Monday, December 16, 2013, in Tunis.
During the signing ceremony, the Japanese Ambassador to Tunisia stated: "The sustainable development of Africa is one of our shared concerns, and it is imperative to develop the African private sector in order to accelerate economic growth and create jobs. Indeed, the main theme of the 5th Tokyo International Conference on African Development (TICAD V) was the promotion of the private sector in Africa. I hope that this 4th loan, intended for private sector assistance, will concretely contribute to the development of the African private sector. I would also like to reiterate Japan's commitment and willingness to continue its support and assist all development efforts in Africa. I take this opportunity to renew my gratitude and appreciation to the AfDB, through its President, for the fruitful cooperation with Japan."
The loan was granted with an interest rate of 0.55% per year and a repayment period of 30 years, including 10 years of grace.
Japan's cumulative contribution under EPSA now amounts to 1.4 billion US dollars, entirely intended for the African private sector.
Leconomistemaghrebin.com
Published on December 17, 2013.
Posted online on December 19, 2013.
The exchange of notes was signed by the President of the AfDB, Donald Kaberuka, and the Japanese Ambassador to Tunis, Juichi Takahara, on Monday, December 16, 2013, in Tunis.
During the signing ceremony, the Japanese Ambassador to Tunisia stated: "The sustainable development of Africa is one of our shared concerns, and it is imperative to develop the African private sector in order to accelerate economic growth and create jobs. Indeed, the main theme of the 5th Tokyo International Conference on African Development (TICAD V) was the promotion of the private sector in Africa. I hope that this 4th loan, intended for private sector assistance, will concretely contribute to the development of the African private sector. I would also like to reiterate Japan's commitment and willingness to continue its support and assist all development efforts in Africa. I take this opportunity to renew my gratitude and appreciation to the AfDB, through its President, for the fruitful cooperation with Japan."
The loan was granted with an interest rate of 0.55% per year and a repayment period of 30 years, including 10 years of grace.
Japan's cumulative contribution under EPSA now amounts to 1.4 billion US dollars, entirely intended for the African private sector.
Leconomistemaghrebin.com
Published on December 17, 2013.
Posted online on December 19, 2013.
