Japan’s Prime Minister expected to announce US$577 million loan during visit to Mozambique

9 January 2014

Japan’s Prime Minister, Shinzo Abe, is expected to pledge a loan of US$577 million to Mozambique during a three-day visit to the country due to begin Saturday, Japanese newspaper Nikkei Business reported.

The funding of 60 billion yen, according to the Tokyo-based newspaper may be used to build roads.

Last June at the International Development Conference held in Tokyo the Japanese Prime Minister said that “Africa will be the centre of growth in the next few decades,” and called for Japan to have greater involvement in the continent in order to benefit both sides.

Prime Minister Shinzo Abe as well as Mozambique is due to visit Ethiopia, the Ivory Coast and Oman. (macauhub)