European Union grants 17 million euros to Sao Tome and Principe

21 June 2010

Sao Tome, Sao Tome and Principe, 21 Jun – The European Union has granted more than 17 million euros to Sao Tome and Principe to finance projects in the transport and business sectors in the next three years, Sao Tome’s Minister for Foreign Affairs and Cooperation, Carlos Tiny, has stated.

The amount is set out in a financing convention signed last Thursday by Tiny and by Thierry Mathisse, the EU’s ambassador to the island country.

The convention particularly focuses on maritime and air transport, along with the maintenance and restoration of rural roads to improve access to urban and social centres.

The government presented to the EU projects in the transport area as a priority, so 15.8 million euros of the convention funds will be channelled to that sector.

Improvement of the runway at Sao Tome international airport, enlargement and modernisation of the air terminal, and requalification and equipment for Ana Chaves port are among the projects, of which 14 percent of the costs will be borne by the state.

The convention also envisages financial aid of 1.2 million euros for the business sector, meant to boost capacities and facilitate control of products imported and exported by Sao Tome and Principe. (macauhub)