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Zim to benefit from Japan development fund

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Zimbabwe will benefit from the Tokyo International Conference on Africa Development (Ticad V)’s $1,8 billion official development assistance (ODA) fund sometime this year.

Japanese Foreign Affairs director general for African affairs, Sumio Kusaka, said during last year’s Ticad Japan pledged to double the ODA help to Africa to $1,8 billion at the fifth Ticad this year.

The funding will be increased to $4 billion in the next five years. The fifth Ticad conference will be held between June 1-3 in Yokohama, Japan.

The assistance would be channelled towards infrastructure and agriculture. Between 2003 -2007 Japanese support to Africa averaged $900 million per year.

“Japan has doubled the development aid for 2012 to Africa, which will be shared all over Africa and every country will benefit,” said Kusaka. “We would like to have as many leaders of Africa to attend Ticad V.”

He said Japan expected African leaders to embrace the Ticad V summit.

Ticad was launched to promote high-level policy dialogue between African leaders and development partners to elevate a “vibrant Africa” and its accelerated economic growth and diversification through support for infrastructure development, trade, investment, tourism and agriculture.

“Definitely, we hope many will attend, as we are trying to reach out to Africa,” he said.

Of importance was to address global challenges, co-operation in confronting climate change and co-operation towards United Nations Security Council reforms.

At least $5, 48 billion was disbursed between 2008 and 2010.

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