Japan vows $5.5bn to boost African private sector

"I believe it will strengthen the partnership between Japan and Africa, bringing sustainable growth, " Kato said of the support, which will begin in 2026 through a framework called the Enhanced Private Sector Assistance for Africa, or EPSA.

He made the remarks at an event of the Japan-led Ninth Tokyo International Conference on African Development, or TICAD 9, which began Wednesday in Yokohama, Kanagawa Prefecture, south of the Japanese capital, for a three-day run.

Under the EPSA initiative, launched in 2005, the Japan International Cooperation Agency (JICA) and the African Development Bank cofinance projects in areas including electricity, sanitation and disaster prevention.

JICA also provides yen-denominated loans to the bank, helping to lower interest rates on loans to private businesses.