Japanese PM to African countries: Our loans come with fewer strings attached

Shinzo Abe, Japanese prime minister, says his country will make an effort to increase investment in African countries because loans from his country come with lesser strings attached.

Speaking on Wednesday at the ongoing Tokyo International Conference on African Development (TICAD), Abe said the Japanese private sector has invested $20 billion in Africa in the past three years.

“I make this pledge to you. The government of Japan will put forth every possible effort so that the power of Japanese private investment of $20 billion in three years should, in the years to come, be surpassed anew from one day to the next,” The Japan Times quoted him to have said.

“We will do whatever it takes to assist the advancement of Japanese companies into Africa. New TICAD will provide limitless support for investment and entrepreneurship.”

The 64-year-old Japanese administrator also warned that African countries should be wary of being neck-deep in debt saying: “If partner countries are deeply in debt, it interferes with everyone’s efforts to enter the market”.

He also urged the countries to “safeguard the Indo-Pacific, which connects Africa and Japan”.

In recent times, the United States has warned African countries about taking loans from China saying the loans are terrible.