New Telegraph

Japan reaffirms commitment to partnering AfDB on poverty reduction

FILE PHOTO: Japan’s vice minister of finance for international affairs, Masato Kanda, poses for a photograph during an interview with Reuters at the Finance Ministry in Tokyo, Japan January 31, 2022. REUTERS/Issei Kato

Masato Kanda, Japan’s Vice Minister of Finance for International Affairs, recently visited the African Development Bank’s (AfDB) headquarters, during which he affirmed Japan’s intent to continue supporting the Bank’s poverty reduction and resilience-building interventions amid global challenges. According to a press release, his delegation met for discussions with the President of the Bank Group Dr Akinwumi Adesina. Also present was the Bank Group’s Executive Director for Japan, Brazil, Argentina, Austria and Saudi Arabia, Takaaki Nomoto.

“Japan is committed to helping the African Development Bank to contribute further in mitigating these humanities challenges,” Kanda said, emphasising the Bank’s strategic importance under Dr Adesina. He described Thursday’s discussions as “constructive”. “The world is now facing tremendous challenges from poverty reduction, combating climate change, a huge amount of infrastructure needs…And the geopolitical situation is really difficult. And now the strategic importance of the African Development Bank is even more enhanced,” he said. Applauding Adesina, Vice Minister Kanda said: “The status of the African Development Bank has increased globally under President Adesina’s strong leadership,” noting further, “we have strong confidence in your leadership of the African Development Bank”. Adesina lauded Japan’s substantial contributions. “Japan provided a significant amount of money for us for the African Development Fund, $604 million,” he said. “Additionally, Japan donated over $421 million in the form of concessional donor loans, which allowed us to have a very successful ADF 16th replenishment,” the Bank President noted.

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