World Bank provides Sao Tome and Principe with US$4.2 million

11 April 2012

The World Bank, via the International Financial Association (IFA), has provides Sao Tome and Principe with US$4.2 million in direct budgetary aid, the Sao Tome Minister for Finance and International Cooperation said Tuesday in Sao Tome.

Minister Américo Ramos told Portuguese news agency Lusa that the donation from the IFA related to 2012, and that in 2013 and 2014 Sao Tome and Principe would receive further donations in the same amount.

“Every year we have a programme to carry out and, as the one for 2012 has been executed, on the 7th the World Bank approved payment of the respective funding,” the minister said.

According to Ramos, the reforms that the Sao Tome government has implemented in its public administration have shown the archipelago to be, “a country that is complying and that, because of that, should benefit from external funding.”

The minister also said that the donations from the World Bank would be applied to economic growth, good governance, social cohesion, State authority, health, and education. (macauhub)