Japan will provide US$2bn worth of financial support over the next five years to back Japanese companies’ resource development projects in Africa
Toshimitsu Motegi, Japan’s trade minister, made the announcement at the Africa-Japan Ministerial Meeting for Resources Development held in Tokyo recently, Reuters reported.
The finance will be channelled through state-run Japan Oil, Gas and Metals National Corporation.
Several Japanese companies have been participating in resource projects in Africa, including Mitsui & Company, which is partnered with Anadarko in the Area 1 liquefied natural gas (LNG) project in Mozambique.
