Japan / Africa

Japan pledges to double aid as Japan-Africa Summit opens

Article published on the 2008-05-28 Latest update 2008-05-28 14:27 TU

Japan's PM Fukuda speaks at the summit in Yokohama
(Photo: Reuters)

Japan pledged to double aid to the African continent by 2012 as well as lend their technological resources to double rice production within a decade and increase low-interest loans to develop infrastructure at the opening of the three-day Japan-Africa Summit in Yokohama on Wednesday with 52 African nations in attendance. Japan hopes to expand its clout in Africa, where China has capitalized on business deals and political alliances.

Japan, as the world's second largest economy, has not tapped into the wealth of natural resources such as metals and oil like rivals China and India. The conference will hopefully bolster ties and beef up trade, which is a meagre two percent overall.

Kenyan President Mwai Kibaki spoke of the ongoing challeges Africa continues to face, including, "those occasioned by globalisation, rising food and fuel prices and failure to gain access to new markets and inadequate direct foreign investment."

Japan also needs allies such as African countries to gain a permanent seat on the UN Security Council. China, a major trading partner with Africa and political rival of Japan, is a permanent member of the council.

Japan is to host the upcoming G8 summit of world's wealthiest countries in July. Tanazanian President Jakaya Kikwete, current chairman of the African Union, expressed hope that this summit would come through on its promises.

"What remains to be seen is increased trade and investment between Africa and Japan," he said.