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LENDING enhance connectivity, expressed at the TICAD Development Bank Group.”
7 conference in August 2019. At the same Dr. Adesina highlighted the African
Japan, African Development conference, Japan also announced that it Development Bank’s long-standing
would contribute to phase 4 of the Enhanced
partnership with the Government of Japan,
Bank Group, sign $668.1mn Private Sector Assistance Initiative (EPSA), a including the Enhanced Private Sector
joint flagship project with the Bank.
Assistance Initiative, which was launched
JPY73.6bn loan agreement allow the (African Development Fund) to in 2005. As of February 2021, Japan’s total
“I sincerely hope that this loan in yen will
contribution to the initiative amounts to
The Japan International Cooperation Agency execute concessional financing and grants for $4.6bn.
(JICA) and the African Development African countries facing emerging challenges Adesina pointed out that Japan’s
Fund (ADF) – the concessional arm of the caused by COVID-19 and contribute to the concessional donor loan was almost 10% of
African Development Bank Group – on economic and social development of these the total ADF-15 resources of $7.5bn. “This
Tuesday signed a loan agreement of 73.6bn countries,” he said. is a continuation of the strong leadership role
Japanese yen ($668.1mn) to support the 15th JICA President Kitaoka Shinichi said: of Japan in providing concessional loans to
replenishment of the African Development “The COVID-19 crisis has accelerated global the African Development Fund. Japan was
Fund (ADF-15). structural changes. Africa is still in the midst the largest provider of concessional donor
During a virtual ceremony, African of this crisis, facing serious challenges from loans to the African Development Fund’s
Development Bank Group President coronavirus variants and the cold storage 15th replenishment, just like Japan was also
Dr. Akinwumi A. Adesina and Japanese requirements for vaccines. Only a united under the African Development Fund’s 14th
Ambassador to Côte d’Ivoire Kuramitsu Africa can defeat this threat to humanity. We replenishment,” he said.
Hideaki signed an Exchange of Notes, while should not allow this virus to jeopardise the “Japan continues to add great value to the
the loan agreement was signed by the JICA steady progress of freedoms, independence overall replenishment cycles of the African
Chief Representative in Côte d’Ivoire, Fujino and democracy that African countries have Development Fund,” Adesina said, adding that
Kojiro, and Acting African Development made so far. I firmly believe that today’s the latest loan “will greatly boost the liquidity
Bank Group Senior Vice President Swazi contribution to ADF-15 will further boost of the African Development Fund and allow
Tshabalala, in her capacity as Chief Financial our cooperation with African countries and us to ramp up much-needed support to the
Officer. strengthen our partnership with the African ADF countries…especially now at this critical
The concessional donor loan will support Development Bank Group.” time when they are struggling to cope with
the 15th replenishment of the African Mimura Atsushi, Deputy Director- and recovery from the COVID-19 pandemic.”
Development Fund, approved in December General/ADF Deputy, International Bureau, By the end of the ADF-15 period (2020-
2019 by ADF donor countries. JICA is Ministry of Finance Japan, said: “The 2022), it is expected that the ADF’s projects
extending the loan – the largest to ADF-15 – African Development Fund is a key source of will have changed the lives of millions
on behalf of the Government of Japan. financing for Africa’s low-income countries of Africans. Up to 28,000 km of new or
Ambassador Kuramitsu Hideaki, whose heavily affected by COVID-19. The Yen Loan improved power distribution lines will have
country has been the fifth-largest contributor we are providing today has a higher grant- been installed, around 9mn people will have
to the ADF in cumulative terms, said the element compared to the Yen Loan provided improved access to water and sanitation
loan formed part of Japan’s commitment for the last ADF replenishment, with a lower and up to $1.6bn of turnover will have been
to promote industrial human resource interest rate and longer maturity. Going generated from investments in micro, small
development, innovation and investment, forward, I would like to see our partnership and medium-size enterprises.
and to invest in quality infrastructure to further developed with the African

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