Japan / Enhanced Private Sector Assistance for Africa (EPSA)
5/22/2012 6:20:02 PM -
TOKYO, Japan, May 22, 2012/African Press Organization (APO)/ -- At the G8 Gleneagles Summit in 2005, the Government of Japan, together with the African Development Bank Group, launched the "EPSA for Africa (Enhanced Private Sector Assistance for Africa)", a joint initiative to promote economic growth led by the private sector. Japan announced provision of Japanese yen loan amounting to 1 billion US dollars, which has been accomplished.
Stimulating private investment in Africa has become an important agenda, as demonstrated at the G8 Camp David Summit where the "New Alliance" was agreed with the aim of mobilizing private resources to improve food security in Africa. In light of this, building on the achievements so far, the Government of Japan has decided to provide additional Japanese yen loan worth 1 billion US dollars over 5 years under the EPSA. The Government of Japan intends to continue to actively work on the promotion of African economic growth led by the private sector.
-- To promote private investment, yen loans which amount to approximately 5.1 billion yen were provided (co-financed with the AfDB) for 11 projects, including road and power projects.
-- To ensure smooth financing to the private sector, 3 two-step-loans amounting to 5.2 billion yen were provided through the AfDB as well.