The Hindu

Tuesday, Sep 30, 2003

Japan pledges $1 billion in aid to Africa

By P. S. Suryanarayana

SINGAPORE Sept. 29. Japan today said that it "aims to extend grant aid
totalling $ 1 billion ..... to Africa'' over the next five years in respect
of "areas such as health and medical care, including measures against AIDS,
as well as education, water and food''.

Announcing this at the Third Tokyo International Conference on African
Development (TICAD III), the Japanese Prime Minister, Junichiro Koizumi,
said he shared the vision that "there will be no stability and prosperity in
the world in the 21st century unless the problems of Africa are resolved''.

Delivering the keynote speech at the inauguration of the three-day TICAD
III, Mr. Koizumi said a target of approximately $ 300 million investments by
Japanese companies in Africa was being set for a five-year period. This
would be accomplished through overseas investment loans and other measures.
In this context, the World Bank and other co-organisers would convene TICAD
Asia-Africa Trade and Investment Conference next year. He announced that
Japan would also "steadily implement cancellation of yen-loan Overseas
Development Assistance (ODA-related) debt totalling $3 billion'' in respect
of the heavily indebted poor countries (HIPCs) and other "eligible
countries'' on that continent.

Pledging to "make the TICAD process more dynamic'' , the Japanese Prime
Minister said, "it is truly regrettable that the recent World Trade
Organisation ministerial conference, held in Cancun, Mexico, could not
advance (the) Doha Development Agenda negotiations''.

The creation of "equitable rules'', he said, "is necessary for promoting
trade and investment (needs) of (the) developing countries, including
Africa''. The "three pillars'' of Japan's own initiative for assistance to
Africa were "human-centred development, poverty reduction through economic
growth and consolidation of peace''.

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