Japan to provide 2 billion USD to Africa resources project


Japan will provide 2 billion USD worth of financial support over five years to back Japanese firms’ resources development projects in Africa.
Japan’s Trade Minister Toshimitsu Motegi made the announcement at the Africa-Japan Ministerial meeting for Resource Development, held in Tokyo. The financial support is to be channeled through state owned Japan Oil, Gas and Metals National Corp (JOGMEC).
A number of Japanese firms have been participating in resource projects in Africa, including Mitsui & Co’s project and Nippon Steel & Sumitomo Metal Corp’s coking coal project both in Mozambique.
(Daily Monitor)