The partnership between the African Development Bank (AfDB) and Japan has been further strengthened with a $5.5 billion financing agreement aimed at supporting private sector growth across Africa.
The two parties formalized their collaboration with a Memorandum of Understanding during the Ninth Tokyo International Conference on African Development (TICAD9).
The upcoming projects will focus on sectors such as energy, connectivity infrastructure, healthcare, agriculture, and nutrition.
At the signing ceremony, Dr. Tanaka emphasized that a new priority under EPSA6 will be “resilience”, aiming to strengthen African economies against climate change and other external shocks.
THE PARTNERSHIP WILL OPEN NEW AREAS
Dr. Tanaka also praised former AfDB President Akinwumi Adesina for his significant contribution to EPSA’s growth. EPSA5, launched at TICAD8 in 2022, had set a $5 billion financing commitment for 2023–2025.
According to AfDB Vice President Kevin Kariuki, the initiative has already mobilized $4 billion, with an additional $1.6 billion in projects at advanced financing stages, expected to be completed by the end of 2025.
With EPSA6, Japan and AfDB will not only increase their financial commitments but also expand the scope of their cooperation. This will help pave the way for growth, resilience, and long-term prosperity across the continent.