2024.10.17
On October 15, the Japan International Cooperation Agency (JICA) signed a loan agreement with the African Development Fund (AfDF) to provide a Japanese ODA loan of up to 51,674.24 million yen for the Loan for the African Development Fund Sixteenth Replenishment.
The signing ceremony was held in the presence of Mr. Fujii Daiho, Deputy Vice Minister of Finance for International Affairs, Ministry of Finance of Japan, and was carried out by African Development Bank (AfDB) President Akinwumi Adesina and JICA Executive Senior Vice President Miyazaki Katsura. Both sides confirmed that two organizations will further strengthen their cooperation in order to support Africa as it faces multiple challenges.
Signing Ceremony
The AfDF is part of the AfDB Group and provides support primarily to least developed countries and poor countries in the form of very long-term, low-interest financing. This loan is based on discussions regarding the 16th replenishment to the AfDF held between the fund and various governments (including the Government of Japan) and development partners at the AfDF Sixteenth Replenishment Pledging Meeting in Morocco, in December 2022. It will be provided by JICA in accordance with the Japanese government’s policy, in addition to the Japanese government’s capital contribution. The goal of the loan is to contribute to economic growth and poverty reduction in the least-developed and lowest-income countries in the African region, thereby contributing to the achievement of SDGs Goals 1 (No poverty), 9 (Industry, innovation and infrastructure), and 17 (Partnerships for the goals).
Details for the project are provided below.
| Project title | Amount (million yen) |
Annual interest rate (%) | Repayment period (years) |
Grace period (years) |
|
|---|---|---|---|---|---|
| Project | Consulting services | ||||
| Loan for the African Development Fund Sixteenth Replenishment | 51,674.24 | 0.11 | - | 40 | 10 |
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