Japan is willing to invest 3.4 billion dollars in Africa by 2012. The Japanese authorities are more specifically willing to invest in projects that respect the government and are committing to fight against global warming.
Today, the first amounts of money have already been received by Africa. More specific, this investment concerns a 300 million dollar loan given to Kenya. This loan is to be used for the construction of two geothermal plants for electricity production.
Other then investments like these, also Japanese banks are encouraging private investments on the continent. More specific, Japan set two goals in 2008: intensify its help in Africa and double its investments on the continent in order to achieve 3.4 billion dollars by 2012. 1.8 million dollars of this amount will be used to stimulate agriculture and infrastructure.
In my opinion, this investment is -as most investments are- good for the people receiving the money. Africa will certainly be able to use this amount of money and stimulate its economy. On the other hand, I also found out Japan doesn’t really want to help Africa, it’s not one of their main targets. The most important reason why Japan is investing in Africa is that it wants to compete with China, a country which is investing almost 4 times more in this continent than Japan does. By this investment, Japan is in my opinion trying to appear in the news in a good way to strengthen its own ‘good’ name.
Used sources: http://www.afriqueavenir.org/en/2010/04/27/japan-invests-in-africa/
Niels Roels
2FV4
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In my opinion the decision of Japan to invest in Africa is only for their own interest. Japan is more focused on the growth of their own economy than the stimulation of agriculture and constructions on the African continent.
Despite this I hope that the African people can do something with the money they will receive from the Japanese government and banks.
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