[Nairobi, Kenya, TCT] Japan, the World Bank and the Global Fund have pledged more than USD 50 billion for development in Africa in the next three to five years.
Japan’s Prime Minister Shinzo Abe revealed that Japan would invest USD 30 billion in Africa. He said this during the opening ceremony of the Sixth Tokyo International Conference on African Development (TICAD) being held in Nairobi, Kenya.
Shinzo said his government will invest an initial Sh1 trillion into Africa’s infrastructure projects, targeting roads, energy, ports, hospitals and training institutions. The money will be channelled through the African Development Bank. The Japanese will invest through organisations and civil society groups.
At the same time, the World Bank and the Global Fund have announced that they will invest USD 24 billion IN Africa to cover universal health to ensure that as many African as possible have access to quality health care.
The two institutions made the commitment made during the Tokyo International Conference on African Development (TICAD-VI).
According to Kenya’s Sunday Nation, World Bank Group President Jim Yong Kim said African countries can become more competitive in the global economy by making several strategic investments, including investing more in their people.
“A critical part of this commitment is to accelerate progress on universal health coverage – ensuring that everyone, everywhere has the opportunity to live a healthy and productive life,” the Sunday Nation reported.
During the conference, South Sudan’s Minister for Foreign Affairs and International Cooperation Deng Alor Kuol, held bilateral talks with Japan's Foreign Affairs Minister Fumio Kishida. Their discussions revolved around areas of mutual interest, specifically how to strengthen the existing bilateral relations.
The minister was accompanied by South Sudan's Ambassador to Kenya, Ambassador Chol Ajongo, Executive Director in the Office of the Minister, Amb. Santino Fardol, and Director in the Office of the Minister, Amb. Edward Hakim.
TICAD is a three-yearly conference that is meant to improve relations between Japan and Africa to spur development. It was first held in 1993 and this was the first time it was taking place in African soil.
Issues that were discussed during the conference were economic transformation, promoting health systems and promoting social responsibility.
Over 32 heads of state and government attended the conference that came to an end on Sunday 28th August. The issued a joint communiqué called the Nairobi Declaration.
The next TICAD conference will be held in 2019.
