ABIDJAN — The recent signing of a $300 million private sector loan assistance agreement between Japan and the African Development Bank highlighted a growing Japanese interest in maintaining and expanding its presence on the continent.
The Japanese International Cooperation Agency currently operates programs across two-thirds of the continent, primarily with an eye to improving and encouraging a robust private sector.
“My impression is that the international community is now starting to realize the importance of private sector-driven economic development, which will eventually help countries to reduce poverty,” JICA Senior Vice President Hiroshi Kato told Devex. “In some countries and areas, Africa is more ready to receive a new type of cooperation that Japan has consistently been advocating.”