AfDB, Japan stake $3bn for private sector
Published On August 29, 2016 » 1762 Views» By Davies M.M Chanda » Business, Stories
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By JUDITH NAMUTOWE –
THE African Development Bank (AfDB) and the Japanese Government have set a joint target to provide US$3 billion for the private sector development initiative aimed at boosting growth and reduce poverty in Africa in the next three years.
AfDB and Japan announced that they had set a joint target to provide $3 billion for private sector development in Africa during the next three years, substantially increasing the resources devoted to boosting economic growth and fighting poverty in the region.
This is contained in a statement issued by the AfDB and made available to the Times in Lusaka yesterday.
According to the statement, resources would be provided under the third phase of the Enhanced Private Sector Assistance for Africa (EPSA) initiative.
The statement indicated that Japan would target to provide $1.5 billion over three years through the Japan International Cooperation Agency (JICA), while the AfDB was expected to finance at least an equal amount.
Apart from this, Japan was ready to provide an additional special allocation of $300 million for co-financing with the AfDB to help African countries access the best low emitting clean coal technologies available.

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