The African Development Bank (AfDB) and the Government of Japan signed a bilateral Exchange of Notes for a loan of $100 million . This is the fourth loan to the Bank, under the Enhanced Private Sector Assistance (EPSA) for Africa Initiative, which supports entrepreneurship, job creation and economic growth in Africa . The Exchange of Notes was signed by Dr. Donald Kaberuka , AfDB President, and His Excellency Mr. Juichi Takahara , Ambassador of Japan to Tunisia . Immediately following the signature of the Exchange of Notes, the relevant Loan Agreement between the AfDB and the Japan International Cooperation Agency (JICA) was signed by Mr. Charles Boamah , AfDB Vice President for Finance, and Mr. Atsushi Asano , Chief Representative, JICA Tunis Office. During the signing ceremony, the AfDB President said: "This Fourth Private Sector Assistance Loan is the first under the Second Phase of EPSA, is not only in line with Japan's commitment at the G8 Gleneagles Summit in 2005 but also a concrete realization of the outcome of the TICAD V in Yokohama . This loan will help in accelerating private sector growth, create employment opportunities, support economic and social infrastructure development and the investment climate. I would like to express our sincere appreciation to the Japanese government and Japanese people for their generous support and the vote of confidence it represents for our continued partnership under the EPSA Initiative." His Excellency, Mr. Juichi Takahara , said that: "Sustainable development of Africa is one of our common concerns and it is imperative to develop the African private sector to accelerate economic growth and create jobs. Indeed, the main theme of the TICAD V in June 2013 was promoting the private sector in Africa . I hope that this Fourth Private Sector Assistance Loan will contribute concretely to the development of the African private sector". This fourth Private Sector Assistance Loan will help fund the Bank's private sector (non-sovereign) operations supporting African SMEs and investments critical to private sector growth and development. This includes public-private partnerships for the provision of essential economic infrastructure and direct investment by the Bank in key African financial institutions and enterprises. Instructively, the Enhanced Private Sector Assistance (EPSA) Initiative is an innovative, multi-component, multi-donor framework for resource mobilization and development partnership to support implementation of the AfDB's Strategy for Private Sector Development .
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