The Japan International Cooperation Agency (JICA) and the African Development Bank (AfDB) have signed a Memorandum of Understanding launching the sixth phase of the Enhanced Private Sector Assistance (EPSA6) agreement, which provides a framework for critical resource mobilisation and development partnership for African countries.
Under EPSA6, the AfDB and JICA will work together to support regional member countries over the period 2026-2028, to achieve a joint financing target of up to $5.5 billion – half a billion more than EPSA5.
The signing ceremony by Japan International Cooperation Agency (JICA) President Dr. Akihiko Tanaka, and African Development Bank Vice President for Power, Energy, Climate and Green Growth Kevin Kariuki, took place during the Ninth Tokyo International Conference on African Development (TICAD9), in Yokohama, Japan. Mr. Katsunobu Kato, Finance Minister of Japan witnessed the ceremony.
The EPSA initiative created in partnership with the Government of Japan and the Bank in 2005, supports the implementation of the Bank’s Strategy for Private Sector Development. Its key priorities are power, connectivity, health, agriculture and nutrition.
Tanaka said co-financing under previous EPSA agreements since 2005, had resulted in $12 billion of joint support to Africa from the African Development Bank and JICA.
He said the $5.5 billion target for EPSA6 is more than five times the original target of EPSA1, 20 years ago.
He said: “This reflects the growing strength of our partnership and the increasing importance of our joint effort”.
He also announced that resilience would be a new priority under EPSA6.
“With this focus we are committed to address not only climate change but also a broad range of shocks,” Tanaka said.
