Japan has announced plans to provide up to ¥810 billion starting next year to African nations for infrastructure projects, signaling a growing partnership between Japan and Africa. This development coincides with Kenya's efforts to secure financing through innovative instruments such as Japan's samurai bonds and China's panda bonds. Kenyan President William Ruto has reiterated his criticism of the global credit rating system, attributing it to Africa's underdevelopment. During his visit to Japan, Ruto emphasized Kenya's commitment to a bottom-up agenda aimed at building a fair and inclusive society, advancing health reforms for universal health coverage, and prioritizing education and research to integrate Africa into the artificial intelligence revolution. He also called for accelerated inclusive wealth creation to combat poverty and unemployment across Africa and demanded equitable climate finance, highlighting the continent's minimal contribution to global emissions. Additionally, Japan and African nations are collaborating on ensuring stable supply and responsible development of key minerals.
Kenyan President William Ruto has once again criticised the ratings of international financial institutions, claiming that they are responsible for the underdevelopment of the African continent. https://t.co/tB3efEVSKJ
In Japan, Kenya’s Ruto sends same message as to China https://t.co/XrN6tVhxVE
Ruto: Africa demands equitable climate finance despite minimal emissions contribution https://t.co/vJYePRBewQ