Japan's aid agency to issue 23 bln yen Africa-support bonds in Aug
The bond issuance will coincide with Japan's cohosting of the ninth Tokyo International Conference on African Development in Yokohama, near Tokyo, on Aug 20-22.
Government-backed JICA is hoping to target local governments, regional financial institutions and Japanese companies that are seeking to invest in the fast-growing, resource-rich continent and encourage them to purchase the bonds, with maturities of either three or five years.
"As Africa, with its large young population, holds significant growth potential, support (through the bonds) will help Japanese companies expand into the region," said Director of JICA's Planning and TICAD Process Division Motohiro Matsumura.
The issuance volume of the Africa TICAD bonds is expected to nearly double from 12 billion yen, issued under a similar scheme in 2019, when the international conference known as TICAD was last held in Japan.
Part of the funds raised through the bonds then was used to finance projects such as the construction of a bridge over the Nile River in Uganda to support logistics, and in the building of geothermal infrastructure in Kenya.
For this time, JICA plans to use the bonds also to promote Japanese-style education that fosters discipline through school activities and provide loans to farmers via financial institutions.
Cohosted by Japan and several multinational organisations, TICAD has been held every three years since its fifth session in 2013. Prior to that, the conference took place every five years following its launch in 1993. — BERNAMA
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Malaysian Reserve
an hour ago
- Malaysian Reserve
Battery Energy Storage System Market Size US$143.28 billion by 2031, Experiences Growing Focus on Establishing Vigorous Storage Infrastructure
NEW YORK, July 14, 2025 /PRNewswire/ — According to a new comprehensive report from The Insight Partners, the global battery energy storage system market is observing significant growth owing to the rising popularity of battery energy storage systems in renewable energy projects. The battery energy storage system market size is projected to reach US$143.28 billion by 2031 from US$ 41.97 billion in 2024. The market is expected to register a CAGR of 17.91% during 2023–2031. The changing energy circumstances across the globe are generating a demand for energy storage infrastructure. The growing energy demand displays the significance of energy storage systems. To explore the valuable insights in the Battery Energy Storage System Market report, you can easily get a sample PDF of the report – The storage system allows energy storage and its usage as per the requirement. Battery energy storage is also important owing to the required balance of energy supply. Developments in energy storage systems and an increase in research and development in energy management systems are driving the battery energy storage system market. For instance, in the US, Stor4Build, an association on energy storage for buildings, is working to accelerate the optimization and deployment of storage technologies. In January 2024, Plus Power stated that it initiated operation at its Kapolei Energy Storage facility in Oahu, Hawaii. The plant is equipped with a grid-scale battery energy storage system, helping in the transition of the state's electric power from coal to solar and wind. In June 2024, Plus Power started managing seven large-scale battery energy storage plants across Arizona and Texas for a total of 1,325 MW/3,500 MWh. Thus, the growing focus of countries on building a vigorous storage infrastructure is driving the battery energy storage system market in the world. The report runs an in-depth analysis of market trends, key players, and future opportunities. Types of battery energy storage system include lithium ion and others. Energy producers, transmission system operators, storage providers, and end users are stakeholders involved in the global battery energy storage system ecosystem. For Detailed Battery Energy Storage System Market Insights, Visit: Overview of Report Findings Mounting Demand for Energy: Rising population and growing urbanization are a few factors steering the use of energy globally specifically in countries such as the US, China, India, and Japan among others. As per the US Energy Information Administration (EIA), US energy consumption is anticipated to grow by 2050 owing to economic and population growth. EIA also reported that US electricity end-use consumption was ~3.2% higher in 2022 than in 2021. Further, EIA predicted that US power consumption will rise by 0.7% in 2025. Battery energy storage has the potential application as energy storage used in times of crisis or in remote or distant locations where power networks are not available. Furthermore, due to the increasing energy uncertainties worldwide, the US government is boosting the application of battery energy storage. For instance, in May 2024, Plus Power secured a US$ 82 million tax equity investment from bank Morgan Stanley for the Arizona-based 90 MW/360 MWh Superstition BESS project, which is anticipated to be operational in June 2024. In February 2024, RWE completed the construction of three new battery energy storage systems (BESS) totaling 190 MW (361 MWh) in Texas and Arizona. Growing Investment in Renewable Power Generation: Since over 70% of greenhouse gas emissions come from the energy sector, an EMS is an effective tool in the fight against CO2 emissions as per the EIA. A battery energy storage system boosts the usage of renewable energy during peak periods and thus reduces dependence on fossil fuels. The load optimization process ensures a device operates at peak efficiency, preventing energy wastage and lowering emissions. In addition, an EMS facilitates the seamless integration of renewable power sources, including solar and wind, into the power grid. By prioritizing renewable energy when available, BESS minimizes reliance on fossil fuels, which are the primary contributors to carbon emissions. Efficiency is an important measure for reducing energy demand in the Net Zero Emissions by the 2050 scenario and has made progress in recent years. However, to achieve this target, the rate of improvement in global energy intensity must be higher than in the past. Stay Updated on The Latest Battery Energy Storage System Market Trends: Geographical Insights: In 2023, North America led the market with a substantial revenue share, followed by Europe and Asia Pacific. Asia Pacific is expected to register the highest CAGR during the forecast period. Market Segmentation Based on type, the battery energy storage system market is divided into lithium ion and others. The lithium ion segment held the largest share of the market in 2024. Based on connection type, the battery energy storage system market is segmented into on-grid and off-grid. The on-grid segment dominated the market in 2024. Based on end user, the battery energy storage system market is segmented into commercial, utilities, and residential. The utilities segment dominated the market in 2024. The battery energy storage system market is segmented into four major regions: North America, Europe, Asia Pacific, and Rest of World. Competitive Strategy and Development Key Players: A few major companies operating in the battery energy storage system market include BYD Co. Ltd; Saft America Inc.; CATL; Tesla Inc.; Samsung SDI Co Ltd; Panasonic Holdings Corp; AES Corp; NextEra Energy, Inc.; Ameresco Inc.; ESS, Inc.; Siemens AG; EOS Energy Enterprises Inc.; KORE Power Inc.; General Electric Co; LG Chem Ltd.; SAFT Groupe SA; and ESS Inc. Trending Topics: Batteries for Solar Energy Storage Market Purchase Premium Copy of Global Battery Energy Storage System Market Size and Growth Report (2021-2031) at: Global Headlines on Battery Energy Storage System 'General Motors and Samsung SDI Plan to Invest More than $3 Billion to Expand U.S. Battery Cell Manufacturing ' 'SAMSUNG SDI Introduces Next-Generation ESS Battery Solutions at Renewable Energy Plus 2024' 'AES Hawaii Launches Company's First Solar plus Storage Facility on O'ahu.' 'Ameresco to build 50MW/200MWh BESS in California.' 'Ameresco and Southern California Edison Reach Agreement on Substantial Completion Milestone for Two Battery Energy Storage Projects' Conclusion Asia Pacific is projected to register a highest CAGR from 2023 to 2031. The APAC battery energy storage system market is segmented into Australia, India, China, Japan, South Korea, and the Rest of APAC. The region is emerging as a key player in the global battery energy storage system market. As the region's economies, particularly China and India, continue to grow, there is a rising interest in the development of renewable energy projects, which is driving the demand for battery energy storage systems. Moreover, the rapid economic development and ongoing urbanization are driving the economic growth within Asia Pacific. The report from The Insight Partners, therefore, provides several stakeholders—including raw material providers, manufacturers, and end users—with valuable insights into how to successfully navigate this evolving market landscape and unlock new opportunities. Trending Related Reports: The lithium-ion battery energy storage market size is projected to reach US$36.7 billion by 2031 Advanced Battery Energy Storage Systems Market Size Key Vendors, Trends and Forecast by 2031 The forklift battery market size is expected to reach US$9.23 billion by 2031; The Battery Packaging Market is expected to register a CAGR of 8% from 2025 to 2031 The Battery Coating Market is expected to register a CAGR of 17% from 2025 to 2031, The Lithium-ion Battery Dispersant Market is expected to register a CAGR of 13% from 2025 to 2031 The Lithium-Ion Battery Binders Market is expected to register a CAGR of 18% from 2025 to 2031 The Electric Vehicles Battery Recycling Market is expected to register a CAGR of 23% from 2025 to 2031 The Battery IoT Market is expected to register a CAGR of 11.4% from 2025 to 2031 The Zinc Battery Market is expected to register a CAGR of 13.5% from 2025 to 2031 About Us: The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials. Contact Us: If you have any queries about this report or if you would like further information, please contact us: Contact Person: Ankit Mathur E-mail: Phone: +1-646-491-9876 Home – Logo – View original content:
Malaysia Sun
5 hours ago
- Malaysia Sun
Germany only has six Patriots left defense minister
US President Donald Trump said earlier that he was ready to supply more air defense systems to Ukraine, but the EU would have to foot the bill Germany has only six US-made Patriot air defense systems available, Defense Minister Boris Pistorius has told the Financial Times. The official added that Berlin could no longer deplete its own stocks to arm Kiev. While Ukraine has received a number of Patriot units since its conflict with Russia escalated in February of 2022, Vladimir Zelensky has been increasingly urging his Western backers to provide more recently. In an interview with the FT published on Sunday, Pistorius said that "we only have six left in Germany," revealing that two of the country's Patriot units had been lent to Poland, while another was unavailable due to maintenance or training. "That's really too few, especially considering the NATO capability goals we have to meet. We definitely can't give any more," the German defense minister stressed. Speaking to reporters on Sunday evening, US President Donald Trump indicated his readiness to supply several Patriots to Ukraine. However, he stopped short of saying whether he was talking about entire air-defense systems or just the missiles for them. "But the European Union is paying for them. We are not paying anything for them... This will be a business for us," Trump emphasized. The comment came shortly after the Pentagon reversed its decision to cut some of its military aid for Kiev. The US president has recently toughened his rhetoric toward his Russian counterpart, Vladimir Putin, accusing him of being unwilling to end the hostilities. Commenting on the Patriot system, valued at around $1 billion per battery, Trump said earlier this month that "it's a shame that we have to spend so much money" on supporting Ukraine. The Russian military claims to have destroyed some of the Western-supplied Patriot air defense systems during the course of the conflict. Moscow has consistently stressed that no amount of Western military aid to Ukraine can change the course of the conflict but only serves to prolong the bloodshed and escalate the hostilities. (
The Star
7 hours ago
- The Star
Data centre NTT DC REIT makes tepid debut after Singapore's biggest IPO in 4 years
A file photo of the SGX Centre in Singapore. — Bloomberg SINGAPORE: Singapore's NTT DC REIT, a data centre real estate investment trust, had a lacklustre market debut on Monday after riding a wave of AI interest to raise $773 million in the city-state's biggest IPO in four years. NTT DC REIT shares ticked higher to $1.03 in the first 30 minutes of trade on the Singapore Exchange, versus their $1.00 per unit offer price. The benchmark stock index was up 0.4%. NTT DC REIT, whose primary backer NTT Ltd is part of Japanese telecommunication giant Nippon Telegraph and Telephone Corp, has six data centres in Austria, Singapore and the United States, valued at $1.6 billion. Its cornerstone investors include Singapore sovereign wealth fund GIC with a 9.8% stake - the second-largest investor after NTT Ltd with 25%. The listing underscores global investors' growing appetite for data centres in the Asia-Pacific region driven by high growth potential and strong demand for artificial intelligence services. NTT DC REIT's IPO was Singapore's biggest since the $977 million IPO of Digital Core REIT in 2021, LSEG data showed. It was also Southeast Asia's biggest IPO since the $942.9 million IPO of Thai Life Insurance in 2022. GROWING IPO PIPELINE The Singapore Exchange has seen growing interest from listing hopefuls since announcing measures in February to strengthen its equities market, including a 20% tax rebate for primary listings. "There is a broad base of potential REIT IPOs on the horizon, including data centre, industrial, logistics, hospitality, commercial and retail assets," said Art Karoonyavanich, global head of equity capital markets at DBS. "This marks the first time we have such a pipeline within a 12-month horizon and these IPOs could raise anywhere between S$600 million ($468.27 million) to around a billion." Beyond REITs, Hong Kong-listed China Medical System (CMS) in set to debut a secondary listing on the SGX on Tuesday. "We believe that upon completion of the proposed secondary listing on the SGX, CMS will be able to attract funds focusing on Asia-Pacific investments and local capital in Southeast Asia, thereby optimising the shareholder structure," CMS told Reuters. Other firms seeking to list in Singapore include Foundation Healthcare as well as Centurion which plans to list an employee dormitory REIT. Singapore's growing IPO market comes against a backdrop of a strong stock market where the benchmark index has risen more than 8% this year and set all-time highs in the past nine trading sessions, LSEG data showed. - Reuters
