The Government of Japan Issues Final Approval on Three FAPA Technical Assistance Grants
Tunis, 8 February 2010 - The Government of Japan has approved three new grants from the Fund for African Private Sector Assistance (FAPA):
- USD 1 million for a five-year multi-donor technical assistance program to the Banque de Développement des Etats de l’Afrique Centrale (BDEAC).
- USD 1 million for a capacity building program with the Egyptian Social Fund for Development (SFD) to increase linkages between farmers, financiers and service providers in the upper Nile region. This Technical Assistance complements a line of credit through the SFD approved by the Board in 2009.
- USD 935,000 to undertake studies for creation of an African Domestic Bond Fund under the African Financial Markets Initiative.
The Fund for African Private Sector Assistance (FAPA) is a component of the Enhanced Private Sector Assistance Initiative (EPSA), a billion-dollar joint initiative of Japan and the AfDB to promote private sector development in Africa. The FAPA trust fund provides untied grants for studies, technical assistance and capacity building for private sector projects and African institutions. Since FAPA's creation in 2006, Japan has contributed USD 30 million while the AfDB has contributed USD 10 million. FAPA commitments to date total about USD 27 million covering 32 projects across the continent.