On October 15, the Japan International Cooperation Agency (JICA) signed a Loan Agreement (L/A) with the African Development Fund (AfDF) for a loan of up to 51,674,240,000 yen for the “Loan for the 16th Capital Increase of the African Development Fund”. The Loan Agreement (L/A) was signed with AfDF (African Development Fund: AfDF).
The signing ceremony was held between Mr. Akinwumi Adesina, President of the African Development Bank (AfDB) and Mr. Miyazaki, Vice President of JICA, in the presence of Mr. Daisuke Fujii, Deputy Minister of Finance of Japan, and confirmed that JICA and AfDB will further strengthen cooperation to resolve issues facing African countries.
Signing Ceremony
The African Development Fund (AfDF) is an institution within the AfDB group that provides very long-term, low-interest loans and gifts mainly to least developed and poor countries in Africa. This project is based on the discussions between AfDF and governments and development agencies, including the Government of Japan, at the “16th Capital Increase Meeting of the African Development Fund” held in Morocco in December 2022. The project is The goal is to promote economic growth and poverty reduction in the least developed and poor countries in the African region, and to contribute to SDGs (Sustainable Development Goals) Goal 1 (End Poverty), Goal 9 (Create the Foundations for Industrial and Technological Innovation), and Goal 17 (Achieve the Goals through Partnerships).
Details of the project are as follows
Amount and conditions of loan
Project name Loan amount
(Millions of yen) Interest rate (%/year) Redemption period
(years) Settlement period
(years) Body Consulting services Loan for the 16th capital increase of the African Development Fund
(Loan for the African Development Fund Sixteenth Replenishment) 51,674.24 0.11 – 40 10
- Project Implementing Agency
Schedule for future project implementation (tentative)
Project completion date: December 2025 (project completion at the end of AfDF’s 16th capital increase period)
© Source JICA
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