The Japan Bank for International Cooperation made a USD50 million investment in the Netherlands-based Currency Exchange Fund, or TCX, The Yomiuri Shimbun reports.
The Japanese investment aims to help Japanese investors expand their businesses in Africa amid a climate of risky currency exchange fluctuations in the region. The move is part of Japan’s overall plan to aid Africa.
The Asian Development Bank and European Bank for Reconstruction and Development have also invested in TCX. As of October 2009, their investments amounted to USD530 million.
