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) has signed a Memorandum of Understanding (MOU) at the Sixth Tokyo International Conference on African Development (TICAD VI) in Nairobi, Kenya.
The 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.
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.
2. 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.
3. 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.