African Development Bank Secures $350 Million Loan Deal from Japan International Cooperation Agency to Boost its Support for Private Sector Operations in Africa
By Oluwasegun Olukotun
The African Development Bank (AfDB) and the Japan International Cooperation Agency (JICA) have signed a $350 million loan to finance the Bank’s support for private sector operations in Africa.
The loan comes under the Enhanced Private Sector Assistance (EPSA) initiative, which is a component of Japan’s Official Development Assistance to Africa. The fifth version of EPSA, for an amount of $4 billion, was signed by the Bank and JICA at the Eighth Tokyo International Conference on African Development (TICAD 8), held in Tunis last August.
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