Japan: African Development Bank celebrates three decades of Japan-backed trust fund

The African Development Bank Group has celebrated the 30th anniversary of the Policy and Human Resources Development Grant (PHRDG), a bilateral trust fund established by Japan in 1994. The initiative has contributed significantly to the development of Africa’s human capital , supporting more than 100 transformation projects. through various sectors.

Presenting a commemorative publication on the trust fund at the Ministry of Finance in Tokyo on Wednesday, October 16, Dr. Akinwumi Adesina Adesina, President of the African Development Bank Group, said the publication highlights three decades of collaboration successful and impactful projects funded by Policy and Human. Grant for resource development, as well as the critical role that grant has played in Africa’s socio-economic development.

Over the past three decades, Japan has contributed JPY 5.3 billion ($37.4 million) to the PHRDG, supporting 107 projects, with 96 completed and 11 ongoing as of September 2024. In recent years, the fund trusteeship has seen a remarkable increase in contributions, underscoring Japan’s renewed commitment to fostering a climate-smart, resilient, inclusive and integrated Africa.

Japan’s Vice Finance Minister for International Affairs, Atsushi Mimura, said he was pleased that the country’s partnership with the African Development Bank Group was going well. He pledged to continue to support, especially the African Development Fund, the private sector and Japanese and African start-ups

“We hope to deepen Japan’s relationship with the African Development Bank,” he said.

Mimura described the African Development Bank Group’s partnership with the World Bank’s plan to bring electricity to 300 million Africans (Mission 300) as a powerful narrative drawing attention to the continent’s energy needs.

Adesina commended Japan for its strong support for the African Development Fund, noting that the Fund has delivered impressive results. He sought the country’s support on a wide range of issues, including the 17th general replenishment of the African Development Fund, Mission 300, special drawing rights, the private sector and start-ups, among others.

“We thank the people of Japan for standing in solidarity with the people of Africa,” Adesina said.

Since its inception, the PHRDG has been a vehicle for Japan to share its expertise and experience in human resource development, empowering Africans to lead the transformation of their societies and economies. The grant has supported a wide range of projects aligned with Japan and the African Development Bank Group’s shared goal of human capital development. Officials said the projects have laid the foundation for accelerated economic growth in Africa.

In a foreword to the Grant for Human Resources and Policy Development at the 30th publication, Vice Minister of Finance for International Affairs Daiho Fujii expressed Japan’s pride in celebrating the 30th anniversary of the PHRDG.

“Japan is leading the efforts of the international community to overcome global challenges, especially those affecting vulnerable populations. Through the PHRDG, we offer technical cooperation to develop the human resources that will drive Africa’s socio-economic transformation. Our partnership with the African Development Bank Group is key to achieving a more resilient and prosperous Africa.”

As the grant for human resources and policy development enters its fourth decade, the African Development Bank Group and Japan have expressed their eagerness to expand their partnership. With six new projects in the 2024-2025 portfolio, including initiatives in higher education, debt management and climate-smart agriculture, the trust fund remains a critical tool for achieving impact across Africa, officials said.

Both sides pledged to continue working hand in hand to unlock the potential of Africa’s human capital, fostering innovation and economic development for generations to come.

Dream Japan-Africa Scholarship Program: Investing in the Future

Among the most impactful initiatives funded by the PHRDG is the Japan-Africa Dream Scholarship Program (JADS), launched in 2017. This program aims to develop Africa’s human capital by providing scholarships to high-achieving African students for studies master’s degree in fields such as agriculture, development economics, energy and public health. To date, the program has awarded scholarships to 23 students from 10 African countries, two-thirds of whom are women.

Graduates of the JADS program have made significant contributions to their home countries. Alumni include Mary Yeboah Asantewaa from Ghana, who now works at SORA Technology in Accra, harnessing drone technology to control infectious diseases, and Glory Sibale from Malawi, who joined recycling company Taiyo-Yuka of Tokyo, focused on the management of sustainable agricultural projects.

As part of his mission to Japan, Adesina also met with Nobumitsu Hayashi, the governor of the Japan Bank for International Cooperation, to expand collaboration in key areas including agriculture, health, access to energy, support for young entrepreneurs, critical minerals and regions. hallways

Later on Wednesday, Adesina met with the leadership of the African Economic Development Association and Japan, where both sides discussed possible collaborations for impact projects. He continued with meetings with Kanetsugu Mike, President of Mitsubishi UFJ Financial Group, and Ken Shibuya, Co-Chairman of the South Africa Global Committee of Keizai Doyukai (Japan Association of Business Executives).

The President of the African Development Bank invited business leaders to the 2024 Africa Investment Forum to be held in Rabat in December. Adesina also hosted representatives of the African diplomatic corps, development partners and the public and private sectors, where they discussed leveraging co-creative relationships with Japanese companies and institutions.