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Participation in the 7th Tokyo International Conference on African Development

Public-Private Business Dialogue
Meeting with the Government of the Republic of Angola
JBIC's booth

The 7th Tokyo International Conference on African Development (TICAD7) took place in Yokohama from August 28 to 30, 2019. In the keynote address, Prime Minister Abe declared the opening of the conference, which discussed "Advancing Africa's Development through People, Technology and Innovation" and stated that the Government of Japan will put forth every possible effort so that the power of Japanese private investment of 20 billion US dollars in three years should, in the years to come, be surpassed anew from one day to the next.

The interests of African leaders have been shifting from aid to business. In the Public-Private Business Dialogue, a newly introduced program, the Government of Japan promised enhanced support through JBIC, JICA, NEXI, JOGMEC, and other institutions, under the New TICAD based on the "double E's" of entrepreneurship and enterprise as well as on the "double I's" of investment and innovation. In response to the statement, JBIC's Deputy Governor Hayashi stressed that it will enhance the Facility for African Investment and Trade Enhancement (FAITH) through the three pillars: (1) enhancement of impact investing, (2) enhancement of partnership, and (3) enhancement of risk-assuming functions*1.

JBIC took the opportunity of TICAD7 to hold and participated in 30 meetings in total, further strengthening the relationships with relevant African countries and development financial institutions, while exchanging opinions on specific possibilities of providing financial support. JBIC signed memoranda of cooperation with the West African Development Bank and the Development Bank of Southern Africa to facilitate business expansion of Japanese companies to Africa.

In addition, JBIC's approach to Africa was widely explained through official events organized by other countries' institutions and Japanese private financial institutions, in which JBIC took part as a panelist, as well as through panel exhibitions and distribution of pamphlets at the venue. (Pamphlet*2 "JBIC Operations in Africa")

As the objective of support shifts from aid to business, the role of JBIC to facilitate business expansion of Japanese companies can be considered as increasingly significant. JBIC will continue to cooperate with African countries, development financial institutions, and other relevant institutions, share new ideas with them, and contribute to the development of economic frontiers, so that Japanese companies' technology and know-how can widely benefit Africa.



Note
  1. *1  For details, please refer to the announcement issued on August 30, 2019
  2. *2  The following language versions are also available in PDF.
    Japanese, French, Portuguese
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