PMFORUM Breaking News
Breaking News in the Project Management World
Monday, October 06, 2008
Japan commits 32.1 Billion Yen for Projects in Africa
According to news from the World Bank, Japan has decided to provide up to 32.1 billion yen in yen loans to the African Development Bank, with the Japan Bank for International Cooperation signing a document recently in Tunis.
The aid is part of up to $4 billion, or about 430 billion yen, in soft loans the Japanese government has pledged to provide over the next five years partly to help improve infrastructure in Africa. The loans of 32.1 billion yen are aimed at providing business funds for private firms operating in Africa through the African Development Bank.
Possible projects to be covered by the loans include the establishment of a microfinance institution for poor people in Tanzania and construction of a hydraulic power plant in Uganda.
Source: World Bank Press Review, 15 September 2008.
The aid is part of up to $4 billion, or about 430 billion yen, in soft loans the Japanese government has pledged to provide over the next five years partly to help improve infrastructure in Africa. The loans of 32.1 billion yen are aimed at providing business funds for private firms operating in Africa through the African Development Bank.
Possible projects to be covered by the loans include the establishment of a microfinance institution for poor people in Tanzania and construction of a hydraulic power plant in Uganda.
Source: World Bank Press Review, 15 September 2008.
