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Japan, AfDB pledge $5bn to support African countries in debt

The Japanese government and the African Development Bank (AfDB) have announced a $5 billion financial cooperation to support countries facing debt challenges in the region.

The bank made the pledge on Sunday, at the eighth Tokyo international conference on African development (TICAD8) held in Tunisia, according to a statement on AfDB’s website.

AfDB said the support was under the fifth phase of the enhanced private sector assistance for Africa initiative (EPSA 5) from 2023 to 2025.

Source: The Cable