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African Development Bank Collaboration Reveals Overlaps Between Japan’s and China’s Goals

African Development Bank head Akinwumi "Akin" Adesina gave an "elated" thank you to Japan for its $5 billion pledge for private sector assistance in Africa. Image via @AfDB_Group

A key announcement at TICAD 8 was that Japan will provide $5 billion to the African Development Bank (AfDB) under the fifth phase of the Enhanced Private Sector Assistance for Africa initiative (EPSA) from 2023 to 2025.

EPSA is a Japan-led multi-donor platform to funnel investment to Africa that started in 2005. The new funding includes $1 billion in special funding aimed at debt stability. 

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