Taiwan to donate US$15 million to Sao Tome and Principe

15 March 2011

Sao Tome, Sao Tome and Principe, 15 March – Taiwan plans to donate US$15 million in 2011 as part of it annual aid to Sao Tome and Principe, the archipelago’s Minister for Planning and Finance, Américo Ramos said.

The new annual cooperation agreement was signed Friday in Sao Tome by the Taiwanese ambassador to Sao Tome and Principe, John Chen and by the Sao Tome Minister for Planning and Finance, Américo Ramos.

Of the US$15 million provided by Taiwan, Ramos said that US$12 million was part of the traditional annual aid and the remaining US$3 million was for special projects for 2011, which had already been agreed by the two governments.

As well as boosting the Sao Tome state budget for the current financial year, the funds from Taiwan will also be applied to a thermal power plant, conclusion of a school centre and expansion of an emergency room with an operating theatre.

The financial aid provided by Taiwan began in May 1997 when the two countries decided to establish diplomatic relations under the guidelines of former Sao Tome president, Miguel Trovoada, father of the current head of government, Patrice Trovoada. (macauhub)