While offering his opening remarks on the second day of the Tokyo International Conference, Japanese Prime Minister, Shinzo Abe expressed concern over the large loans China was offering African Countries labelling them as predatory.
According to Abe, “You cannot invest in a country that is saddled with debt,” and China is popularly known for providing large loans for road infrastructure and other such services within Africa without any initiative to pay them off.
As a result, Japan hopes to provide training in debt and risk management to 30 African countries over the next three years to catalyse economic growth within the continent. a joint declaration is to be adopted after the 3-day conference ends on Friday.
Shinzo Abe also highlighted the economic prospects of Africa citing how based on the continent’s economic growth pace, it is poised to become a huge economic bloc.
