Speech Transcripts

Dr. Akinwumi Adesina, President of the African Development Bank Group.
Your Excellency, Kentaro OGATA, Deputy Vice Minister for International Affairs, Ministry of Finance Japan.
Distinguished participants and guests, good morning.

It's my great pleasure to participate in this Loan Agreement Signing Ceremony for NSL8, or the 8th Non-Sovereign Loan, which marks a significant milestone of EPSA5, a symbolical partnership between the African Development Bank and Japan.

I would like to express my special gratitude to all the participants who have graced us on this occasion, especially President Adesina and Deputy Vice Minister for International Affairs Ogata. Your presence underscores the significance of this momentous event and reflects the unwavering commitment to fostering development in Africa.

NSL8 represents a crucial step in our efforts to support Africa as it faces the challenge of navigating multiple compounded crises in the midst of the worsening international situation, hampered by climate change, issues of debt sustainability, the war in Ukraine, and the recent turmoil in Sudan. The private sector in Africa is fundamental to creating jobs and economic opportunities for the progress and prosperity of African nations. Although the private sector has been confronting unprecedented economic and social pressures, we are confident that AfDB's Non-sovereign Operations supported through NSL8 will play an essential role in addressing these pressing issues.

We also believe that NSL8 will demonstrate the importance of solidarity between Africa and the international community in today's world of crises. Last year, we worked together to rapidly respond to the crisis-induced financial needs of African countries by co-financing the "African Emergency Food Production Facility" to strengthen food security on the continent. Today, JICA and the AfDB will sign the Loan Agreement to promote private sector development in the amount of approximately 350 million US dollars. It contributes to a target of 5 billion US dollars under EPSA5. Thus far, JICA and the AfDB have jointly worked together on NSL1 through NSL8 to provide a total of 1.85 billion US dollars to enhance private sector development in Africa. Marked by these collaborations, we aim to further foster our strong and long-standing partnership and jointly tackle emergent challenges on the continent and the people we serve.

In concluding, I would like to express my deepest appreciation to everyone who has played a role in making the NSL8 a reality. We at JICA are committed to working with the AfDB and African countries toward a resilient, inclusive, and prosperous continent.

Thank you.