Address by H.E. Mr. Yasuo Fukuda, Prime Minister of Japan at the Opening Session of the Fourth Tokyo International Conference on African Development (TICAD IV)
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Today we are honored to have representatives from 52 African nations and from many Asian nations and donor countries. In addition, a number of international organizations, special guests, and representatives of NGOs are also participating. With all these participants, this TICAD IV has become a truly historic event.
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If I were to liken the history of African development to a great narrative, then what we are about to do now is to open to a new page, titled the "century of African growth." In the future, Africa will become a powerful engine driving the growth of the world. Through preparations for TICAD IV, I believe that we have come to share a common intuition about Africa's prospects for the future. ...
Here at this juncture, Japan wants to walk alongside the African people, shoulder to shoulder.
In order to boost the momentum for African growth, the most important thing is the development of infrastructure. In particular, the experiences of Japan and other Asian countries tell us that improvements in transportation infrastructure play a critical role in attracting private investment.
While there is progress now underway in Africa's road network, there are still many missing links, and this is one of the reasons why it has not yet reached a point where it sufficiently performs the functions of a full-fledged network. The Government of Japan wishes to engage in efforts to diligently join these unconnected road networks. Japan also wishes to combine these efforts with improvements to ports in order to form a network - a network that will enable Africa as a whole to move forward with greater dynamism.
With that in mind,
the first pledge that I would like to make today is that over the next five years, Japan will proactively and flexibly provide up to 4 billion US dollars of soft loans to Africa. It will certainly help increase momentum for infrastructure improvements. Japan intends to do its utmost in this area in cooperation with the donors of the Infrastructure Consortium for Africa (ICA).
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Networks of road systems fulfill their intended purpose only when they transport people and goods smoothly. Therefore our objective must be to enable crossing and inspections at national borders as quickly as possible. The Government of Japan hopes to assist with building "one-stop border posts," which are facilities designed to make crossing national borders more efficient in the areas of customs and immigration procedures. Japan hopes to assist in training the personnel who will work there.
Activities by private companies are crucial for African growth. This is another reason why it is imperative for us to improve infrastructure. Japanese companies will have greater interest in Africa as infrastructure is enhanced. When direct investment from Japanese companies increases, transfers of technology and managerial know-how will also increase accordingly.
If we are able to utilize Africa's plentiful resources more fully by harnessing Japan's technologies, this will surely be a major trigger for growth and benefit Africa.
For that reason, the Japanese government will implement measures to promote the activities of Japanese companies in Africa while it improves African infrastructure. ... we will be inaugurating within the Japan Bank for International Cooperation (JBIC) the Facility for African Investment. This Facility will directly finance businesses in African countries and guarantee the financing provided by Japanese banks for businesses in Africa. Financial assistance for Africa through the JBIC, including this newly-established JBIC Facility for African Investment, will be on a scale of 2.5 billion US dollars over the next five years. Through such public-private collaborative activity, we are aiming to double Japanese private investment in Africa.