Japan pledges $2bn for Africa projects
20 May 2013, 09:16
Tokyo - Japan will provide $2bn worth of financial support over five years to back Japanese firms' resources development projects in Africa, media reported over the weekend.
Japan's Trade Minister Toshimitsu Motegi made the announcement at the Africa-Japan Ministerial Meeting for Resources Development held in Tokyo, Japanese news agencies Kyodo and Jiji said.
The financial support is to be channeled through state-run Japan Oil, Gas and Metals National Corp (JOGMEC), reports said.
A number of Japanese firms have been participating in resources projects in Africa, including Mitsui & Co's, LNG project in Mozambique and Nippon Steel & Sumitomo Metal's coking coal project also in Mozambique.