Japan has announced that it had agreed with the African Development Bank (AfDB) to launch an initiative to financially support energy-related infrastructure projects in Africa as part of its energy initiatives in Africa.
The Government of Japan and the AfDB signed a Letter of Intent to launch the Japan-Africa Energy Initiative (JAEI) to provide significant support to the New Deal on Energy for Africa which aims to achieve universal access to energy by 2025, using available energy sources and the most advanced technologies.
The agreement was signed on 3rd July 2017 on the sidelines of the ongoing African Union Summit at the AU headquarters in Addis Ababa.
Japan will provide aid worth up to US$6 billion, partly using existing frameworks, According to Japan’s Ministry of Finance, the AfDB will specifically select projects eligible for aid under the initiative, in cooperation with African countries.
Japan’s Ambassador to Ethiopia, Shinichi Saida passed a message from Taro Aso, Deputy Prime Minister and Minister of Finance of Japan,“We strongly hope that, through this Initiative,
Japan can contribute to accelerating the provision of electricity in Africa, including through its best available low-emitting clean coal technologies, thus leading to inclusive and sustainable growth in Africa.”
Japan will offer financial assistance for the construction of high-efficiency coal-fired power plants utilizing clean coal technology that helps curb carbon dioxide emissions and for the operations of the plants.