Saudi Arabia arrests 19,696 illegals in a week    Turki Al-Sheikh crowned "Most Influential Personality in the Last Decade" at MENA Effie Awards 2024    Move to ban on establishing zoos in residential neighborhoods    SFDA move to impose travel ban on workers of food outlets in the event of food poisoning    GACA: 1029 complaints recorded against airlines, with least complaints in Riyadh and Buraidah airports during October    CMA plans to allow former expatriates in Saudi and other Gulf states to invest in TASI    11 killed, 23 injured in Israeli airstrike on Beirut    Trump picks billionaire Scott Bessent for Treasury Secretary    WHO: Mpox remains an international public health emergency    2 Pakistanis arrested for promoting methamphetamine    Moody's upgrades Saudi Arabia's credit rating to Aa3 with stable outlook    Al Okhdood halts Al Shabab's winning streak with a 1-1 draw in Saudi Pro League    Mahrez leads Al Ahli to victory over Al Fayha in Saudi Pro League    Al Qadsiah hands Al Nassr their first defeat in the Saudi Pro League    Saudi musical marvels takes center stage in Tokyo's iconic opera hall    Saudi Arabia and Japan to collaborate on training Saudi students in Manga comics Saudi Minister of Culture discusses cultural collaboration during Tokyo visit    Al Khaleej qualifies for Asian Men's Club League Handball Championship final    Katy Perry v Katie Perry: Singer wins right to use name in Australia    Sitting too much linked to heart disease –– even if you work out    Denmark's Victoria Kjær Theilvig wins Miss Universe 2024    Order vs. Morality: Lessons from New York's 1977 Blackout    India puts blockbuster Pakistani film on hold    The Vikings and the Islamic world    Filipino pilgrim's incredible evolution from an enemy of Islam to its staunch advocate    Exotic Taif Roses Simulation Performed at Taif Rose Festival    Asian shares mixed Tuesday    Weather Forecast for Tuesday    Saudi Tourism Authority Participates in Arabian Travel Market Exhibition in Dubai    Minister of Industry Announces 50 Investment Opportunities Worth over SAR 96 Billion in Machinery, Equipment Sector    HRH Crown Prince Offers Condolences to Crown Prince of Kuwait on Death of Sheikh Fawaz Salman Abdullah Al-Ali Al-Malek Al-Sabah    HRH Crown Prince Congratulates Santiago Peña on Winning Presidential Election in Paraguay    SDAIA Launches 1st Phase of 'Elevate Program' to Train 1,000 Women on Data, AI    41 Saudi Citizens and 171 Others from Brotherly and Friendly Countries Arrive in Saudi Arabia from Sudan    Saudi Arabia Hosts 1st Meeting of Arab Authorities Controlling Medicines    General Directorate of Narcotics Control Foils Attempt to Smuggle over 5 Million Amphetamine Pills    NAVI Javelins Crowned as Champions of Women's Counter-Strike: Global Offensive (CS:GO) Competitions    Saudi Karate Team Wins Four Medals in World Youth League Championship    Third Edition of FIFA Forward Program Kicks off in Riyadh    Evacuated from Sudan, 187 Nationals from Several Countries Arrive in Jeddah    SPA Documents Thajjud Prayer at Prophet's Mosque in Madinah    SFDA Recommends to Test Blood Sugar at Home Two or Three Hours after Meals    SFDA Offers Various Recommendations for Safe Food Frying    SFDA Provides Five Tips for Using Home Blood Pressure Monitor    SFDA: Instant Soup Contains Large Amounts of Salt    Mawani: New shipping service to connect Jubail Commercial Port to 11 global ports    Custodian of the Two Holy Mosques Delivers Speech to Pilgrims, Citizens, Residents and Muslims around the World    Sheikh Al-Issa in Arafah's Sermon: Allaah Blessed You by Making It Easy for You to Carry out This Obligation. Thus, Ensure Following the Guidance of Your Prophet    Custodian of the Two Holy Mosques addresses citizens and all Muslims on the occasion of the Holy month of Ramadan    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Japan vows to double Africa aid, investment
Published in The Saudi Gazette on 29 - 05 - 2008

Japan unveiled a package of steps to help boost growth in Africa on Wednesday, vowing to double its aid and business investment, as it seeks closer ties with the resource-rich continent.
In an opening speech for the Tokyo International Conference on African Development (TICAD), to which Japan has attracted more than 40 African leaders, Prime Minister Yasuo Fukuda also said Japan would set up a new $2.5 billion facility to help Japanese firms to invest more in Africa.
“If I were to liken the history of African development to a volume of literature, then what we are about to do now is to open to a new page, titled the ‘century of African growth',” Fukuda said, adding that developing transportation infrastructure was key to boost growth there.
The three-day conference in Yokohama, near Tokyo, is a litmus test for Japan's efforts to help Africa as it seeks more mineral resources from the continent.
Japan also hopes to win support for its long-standing bid for a permanent seat on U.N. Security Council – a topic which Fukuda repeatedly mentioned in bilateral meetings with African leaders on Tuesday.
Some 2,500 participants, representing 52 African nations, delegates from international agencies, and activists such as Irish rock star Bono, have gathered at TICAD as Africa faces new challenges of soaring food and energy prices, which have led to riots in some countries.
Besides talking about how to boost growth in Africa, delegates also stressed the need to meet the UN Millennium Development Goals, a set of eight globally agreed targets to be reached by 2015.
As this year markets the halfway point to achieve the goals, which include halving the number of people living in poverty on less than $1 a day and providing universal primary education, concerns are growing that most countries may fail to meet them.
Africa, closer ties with Japan means not only getting more aid and investment from the world's second-largest economy but also getting its voice heard on the international stage, especially since Japan chairs the Group of Eight meetings of rich nations this year, including a leaders' summit in July.
“What Prime Minister Fukuda decides this week will set the tone for this summer's G8 Summit where we expect action on promises to Africa - not more rhetoric or fancy accounting,” said Takumo Yamada, spokesman for Oxfam Japan.
Fukuda vowed to double Tokyo's development aid to Africa over the next five years. He pledged to provide up to $4 billion of yen loans to Africa over the next five years to improve African infrastructure, while doubling grant aid and technical assistance over the next five years as well.
“Besides the increase in aid, which is highly appreciated, TICAD needs to go further,” said Tanzanian President Jakaya Kikwete. “What remains to be seen is increased trade and investment between Africa and Japan.” Citing World Bank figures, Kikwete said Japanese investment in Sub-Saharan Africa between 2002 and 2004 amounted to $415 million, just 0.4 percent of Japan's global foreign investment. It is the fourth TICAD conference in the past 20 years, yet Japan has lagged behind rivals China and India in accessing Africa's rich bounty of metals and oil. Japan's trade with Africa is a meagre 2 percent of overall trade.
To foster Japanese businesses in Africa, Fukuda said Japan would dispatch a large-scale economic mission, comprising leaders from the public and private sector, later this year.
A senior Japanese foreign ministry official said it was still undecided which countries this mission would visit, but a wide range of businesses such as steel, chemical, automobile, trading, and retail industries was likely to join.
“It is definitely important for business leaders to see through their own eyes what's cooking in Africa because there are a lot of things cooking in Africa,” he added.
“We are deeply concerned by the fact that many African countries are in great difficulty as a result of the recent sharp rise in food prices,” Fukuda said.
To address Africa's shortage of health care providers, Japan will train 100,000 people in Africa over the next five years as health care workers, Fukuda said.
He also promoted Japan's climate change initiative, through which it seeks to provide $10 billion over five years to help developing countries cut greenhouse gas emissions while boosting economic growth.
In a statement, anti-poverty group Oxfam International spokesman Takumo Yamada said Japan needs to reverse its falling overseas aid.


Clic here to read the story from its source.