The Japan Bank for International Cooperation (JBIC) has signed cooperation agreements with two regional development banks in Africa. The agreements, with the East African Development Bank (EADB) and the Eastern and Southern African Trade and Development Bank (PTA Bank), will promote the trade and investment activities of Japanese businesses, whilst supporting private sector development in Africa.


The agreements provide for a consultation process on mutual operational strategies, for the exchange of information and for cooperation in credit provision for new projects in countries where EADB and PTA Bank conduct lending and investment operations.  They will develop a support framework for Japanese business investment and for the expansion of trade between Japan and African countries.


Kenya, Tanzania and Uganda are member states of both banks, whilst Burundi, Comoros, Djibouti, Egypt, Eritrea, Malawi, Rwanda, the Seychelles, Somalia, Sudan, Zambia and Zimbabwe are member states of PTA Bank.


The Japanese government has made efforts to support private sector development in Africa for some years. At the Tokyo International Conference for African Development III (TICAD III) in September 2003, the government stated that it would provide financial support for investment promotion, with lending from JBIC.


Since its establishment in 1999, JBIC has worked to support economic growth in Africa by preparing and presenting policy proposals on best practices for investment promotion and facilitation. JBIC intends to examine specific financial support with African banks based on these cooperation agreements.