Foreign funding makes it possible to invest US$43.4 million in Sao Tome and Principe in 2009

7 May 2010

Sao Tome, Sao Tome and Principe, 7 May – Public investments in Sao Tome and Principe via foreign funding totalled US$43.4 million in 2009, the archipelago’s Ministry from Planning and Finance said Thursday.

Figures from the ministry showed that, of the funding from foreign sources, 54 percent or US$23.4 million had arrived as donations and the remaining 46 percent, or US$20 million had been taken on as loans.

Taiwan was the country that provided the biggest donation, with US$13 million or the equivalent of 55 percent of total aid, followed by Portugal with US$3 million and the European Union with US$2 million.

In terms of funding in the form of loans, Portugal topped the list of creditors with US$10 million, followed by Angola with US$6.9 million and the Arab Bank for Economic Development in Africa with US$1.1 million.

The list of countries and institutions to fund Sao Tome and Principe’s public investments in 2009 also included Morocco, the World Bank, the United Nations, the >African Development bank and the International Agricultural Development Fund.

The sectors that benefited most were Public Works and Urbanism which spent just over US$12.7 million, particularly on repairing roads, the airport runways and social housing.

The health sector came next with spending of just over US$5 million, notably on activities to combat malaria on the archipelago followed by the Agriculture Ministry which spent US43 million. (macauhub)