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AfDB and JETRO to sign MOU for cooperation on programmes and projects in Africa

 

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25 August 2016 – Abidjan, Côte d’Ivoire – The African Development Bank Group (comprised of the African Development Bank and the African Development Fund; AfDB/ADF) and the Japan External Trade Organization (JETRO) will sign a Memorandum of Understanding (MOU) on August 26, 2016 at the Sixth Tokyo International Conference on African Development (TICAD VI) in Nairobi, Kenya.

160825-pmwj50-afdb-jetro-LOGOThe objective of the MOU is to establish a general framework to promote collaboration between them in matters of common interest such as infrastructure development in the African continent and participation of Japanese companies in the projects.

The cooperation is intended to contribute to assisting African countries in their development efforts in particular by promoting trade and investment between Japan and Africa. At the signing ceremony, the AfDB/ADF will be represented by Dr. Akinwumi Adesina, President of the African Development Bank Group, and JETRO will be represented by Mr. Hiroyuki Ishige, Chairman and CEO.

Areas of Cooperation

  1.  AfDB/ADF and JETRO intend to collaborate with each other in developing and implementing programmes and projects. Priority areas of such cooperation will include:

a) Power and energy;

b) Industrialization; and

c)  Private sector development including quality infrastructure.

  1. AfDB/ADF and JETRO will further strengthen cooperation through knowledge partnership including research, staff exchange and knowledge sharing in the areas of common interest. Such partnership will include:

a)  Region-wide partnership with Regional Economic Communities; and

b)  Collaboration to foster systematic knowledge transfer between Japanese and African companies that creates significant value addition to African agricultural exports to Japan and the world.

  1. AfDB/ADF and JETRO will exchange relevant information and data on matters of common interest and collaborate in the collection, analysis and dissemination of such information and data.

Established in 1958 to promote Japanese exports abroad, JETRO’s core focus in the 21st century has shifted toward promoting foreign direct investment into Japan and helping small to medium-size Japanese firms maximize their global export potential. JETRO has 74 overseas offices worldwide, with 7 offices in Africa. www.jetro.go.jp  

The African Development Bank (AfDB) is a regional multilateral development financial institution established in 1964 to mobilize resources towards the economic and social progress of its Regional Member Countries. Headquartered in Abidjan, Côte d’Ivoire, the Bank promotes economic and social development in African states, providing financing for programs and projects across the continent.  For more information, visit www.afdb.org.

Source: African Development Bank