13 of June 2017

AfDB prepares new strategy for São Tomé and Príncipe

The African Development Bank (AfDB) is available to finance new projects in São Tomé and Príncipe in energy, water and economic and financial management areas, Tonia Kandiero, director general for the Southern Africa Regional, announced at its audience with the Prime Minister of São Tomé, Patrice Trovoada, on June 13.

The Director General for the Southern African Regional of AfDB, who visited the country for the first time from June 12 to 14 had as its main mission to dialogue with the Government to finalize the AfDB Strategy for São Tomé and Príncipe for the four-year period 2017-2021.

According to the AfDB, the Bank's new action strategy envisages the production of renewable energy as one of the top priorities.

During the audience, the AfDB team was briefed on the Government's priorities, which are based on the construction of the port, the airport, and tourism. Structuring projects that find expression in the transformation agenda of the country. "The most important thing is the issue of supporting São Tomé's development agenda. Our team will work to see how can we support the country in this task", said the AfDB Regional Director.

Flávio Gama, a resident representative of the AfDB in São Tomé and Príncipe, explained that although the current projects are valued at USD 30 million, there is still the possibility of granting more funds for investments.