The African Development Bank (AfDB) signed a Letter of Intent (LoI) with three Japanese companies, for the development of climate resilient roads in Africa.
The letters were signed at the Ninth Tokyo International Conference on African Development (TICAD9) in Yokohama, Japan, last week Thursday.
Solomon Quaynor, African Development Bank Vice President for the Private Sector, Infrastructure and Industrialization, inked agreements with representatives from the Shimizu Corporation, Kao Corporation and The Nippon Road Co Ltd.
The LoI is expected to formalize mutual cooperation, information and knowledge sharing, as well as the exploration of co-financing opportunities for sustainable infrastructure solutions across Africa.
Quaynor said the role of the bank in the agreement, is to facilitate coordination with governments, lead awareness-raising campaigns, support capacity building for local partners and explore financing options for deployment of the technology.
The role of companies- Shimizu, Kao, and Nippon, is to conduct demand and feasibility studies, test the application of PET Asphalt Concrete in various African countries, and assess investment opportunities.
“The Sustainable Road Maintenance Program for Africa (SRMPA) is an innovative initiative by the Bank, aiming at offering climate-resilient solutions to protect infrastructure investments from the impacts of climate change” he said.
Kazuya Osako, Managing Officer and Director, at Shimizu Corporation, said “we believe that the key to successfully spreading this technology in Africa, is a collaboration with local companies and partners.”
Osaka also said Shimuzu has begun testing the PET Asphalt Concrete in Kenya, since May this year.
Picture: Supplied