Japan to double aid to Africa

Published: May 20, 2008 at 7:04 AM
Russian President-elect Medvedev meets with Japanese Prime Minister Fukuda in Moscow

TOKYO, May 20 (UPI) -- Japanese Prime Minister Yasuo Fukuda announced plans for Japan to double its aid to Africa to $1.9 billion by 2012 from the current total of about $900 million.

The step is needed to promote the continent's development through infrastructure improvement and higher agricultural productivity, Fukuda said, Kyodo news service reported.

The announcement on Japan's commitment comes as the country prepares to host the Tokyo International Conference on African Development at the end of this month Yokohama.

The new aid program will be proactive, designed to help double private-sector direct investment in Africa by 2012.

Japanese Foreign Minister Masahiko Komura said the increase in aid will include both grants and loans.

Japan is also keen to secure resources in Africa as well as win support from African nations for its bid to gain a permanent seat on the U.N. Security Council, the Kyodo report said.

© 2008 United Press International, Inc. All Rights Reserved.
Order reprints



Additional News Stories
Toronto man wins Silverdome auction (4 min)
Watercooler Stories
Jockstrip: The world as we know it.
Your Daily Horoscope
The almanac
UPI Sports Calendar for Tuesday, Nov. 24
Hiring rivals' workers can be an advantage
fark
Katie Couric, you look good, won't you back that azz up, you's a fine anchorwoman, won't you back...
Ft. Lauderdale man smokes 115,000th joint after years of averaging 10 a day, but never gets high....
The more germs a child is exposed to during early childhood, the better their immune system in later...
Kirk Camerowned
Photoshop this hypno-gizmo
Nearly six in ten Mexicans say living in the U.S. is much better than back in Old Mexico. Lou Dobbs'...