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September 30, 2003

Aid from Japan

Even in the midst of a their own recession, Japan has pledged $1 billion in new aid to Africa over the next five years.

The money, to be dispersed over five years, will help fund AIDS (news - web sites) treatment, vaccinations and building schools and facilities for drinking water.
The pledge was the centerpiece of a three-tiered program to promote development, poverty reduction and peace. That program included earlier initiatives to earmark $300 million over the next five years for loans for Japanese investment in Africa, and to forgive up to $3 billion in yen loans to the most heavily indebted nations on the continent.

As wonderful as this is, $1 billion is just a fraction of the amount needed to help African nations rebuild and modernize. If it is administered well, though, this money will be a welcome gift from Japan.

Along with the $1.9 billion (of the promised $15 billion over five years) in new spending this year from the United States for AIDs treatment and prevention, hopefully the infrastructure for real movement on the AIDs crisis.

Read the story.

Posted by zombyboy at September 30, 2003 02:30 PM
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