Japan Pledges $30 billion in Funding at Africa Summit

Japan's Foreign Minister Yoshimasa Hayashi and United Nations Deputy Secretary-General Amina J. Mohammed attend the opening session of the eighth Tokyo International Conference on African Development (TICAD) in Tunisia's capital Tunis on August 27, 2022. FETHI BELAID / POOL / AFP

Japan will extend $30 billion in funding to aid African development. This is the major outcome of the eighth Tokyo International Conference on African Development, which took place in Tunisia this weekend. 

Speaking virtually, Japan’s Prime Minister Fumio Kishida pledged funding across several cooperation initiatives. These include $4 billion for green growth and decarbonization and a $5 billion loan to the African Development Bank to support fiscal stability, with a special $1 billion loan for debt management. 

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by Cobus van Staden

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