Japan $1 billion aid earmarked for northern Africa

AP News
Posted: Jun 02, 2013 8:22 AM
Japan $1 billion aid earmarked for northern Africa

YOKOHAMA, Japan (AP) — Japan on Sunday announced a plan to provide 100 billion yen ($1 billion) in aid over the next five years to northern Africa for economic development and humanitarian efforts, including help with security and counter-terrorism measures.

Prime Minister Shinzo Abe announced the assistance in a speech at a conference in Yokohama, near Tokyo, where officials from 50 African nations have gathered to talk about trade, growth and other issues.

The $1 billion is part of the 3.2 trillion yen ($32 billion) in government and private-sector aid announced Saturday.

Japan is eager to court Africa, which is rich in resources and is growing as a market, after having fallen behind Asian rival China in trade with and infrastructure projects in Africa.

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The three-day conference, which ends Monday, has been held every five years since 1993.