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Launching JBIC Facility for African Investment and Trade Enhancement (FAITH)
Supporting Private Sector-Led Growth and Acceleration of Infrastructure Development in Africa

2013-06-03
Japan Bank for International Cooperation (JBIC)

The Japan Bank for International Cooperation (JBIC; Governor: Hiroshi Okuda) launched on June 1 the JBIC Facility for African Investment and Trade Enhancement ("FAITH") to support the promotion of private sector-led growth and the acceleration of infrastructure development in African countries by drawing on its financial instruments such as loans, equity participations and guarantees.

In the Fifth Tokyo International Conference on African Development (TICAD V), currently being held in Yokohama, important topics under discussion include the promotion of growth led by the private sector and the acceleration of infrastructure development in African countries.

FAITH was expanded and evolved from the JBIC Facility for African Investment ("FAI") launched in April 2009. Under FAITH, JBIC will actively extend loans, make equity participations and provide guarantees in cooperation with international organizations including African Development Bank. In TICAD V, the Government of Japan expressed that it would work toward expanding trade and investment in African countries in tandem with the private sector. Under FAITH, it is expected that such financial support would approximately amount to 5 billion U.S. dollars over the next 5 years.

JBIC will make active efforts toward African economic growth by supporting the promotion of private sector-led growth and the acceleration of infrastructure development by utilizing FAITH and other financial instruments.

 

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