Japan supports Africa's development with $30 billion - Economist

On August 27, 2022, Japanese Prime Minister Fumio Kishida pledged that Japan would provide $30 billion in aid to contribute to developing African countries. for Ukraine.

Addressing the Tokyo International Conference on Development in Africa "TICAD" held in Tunisia, Kishida said that Tokyo will work to ensure that grain is shipped to Africa amid global shortages.

Kishida clarified that the $30 billion will be delivered over three years, and pledged smaller amounts to achieve food security in coordination with the African Development Bank.

If we look at Tunisia, we will find that it needs financial support at the present time as it is facing a public finance crisis, exacerbated by global pressure on essential commodities, and long queues lined up last week in front of petrol stations amidst the lack of fuel.

Preliminary estimates showed that the Japanese economy grew during the second quarter of the year by 2.2% on an annual basis in economic data announced in the middle of August, and this increase in Japan's annual GDP came less than expectations of 2.5%.

The annual GDP was about 542 trillion yen, which is equivalent to about 4.07 trillion dollars, exceeding the pre-coronavirus level of 540.84 trillion yen in October and December 2019.