Foreign aid makes it possible to invest US$69.3 million in Sao Tome and Principe in 2012

25 February 2013

Public investment in Sao Tome and Principe through foreign aid in 2012 totalled 1.249 billion dobras (US$69.3 million), the archipelago’s Planning and Finance Ministry said Monday.

Figures from the ministry to which Macauhub had access showed that of the funding from foreign aid, 59 percent or US$41.2 million was in donations and the remaining 41 percent, or US$28.1 million was as loans.

Taiwan was the biggest source of donations and provided US$15.8 million, followed by the European Development Fund which supplied US$9.3 million, and Nigeria with US$7.3 million, as well as other donors that provided smaller amounts.

In terms of loans, Angola provided US$23 million, Nigeria provided US$10.5 million and Equatorial Guinea provided loans of US$9.7 million, along with other creditors that provided smaller loans.

Foreign financers of public investments in Sao Tome and Principe in 2012 also included Japan, Portugal, Brazil, the United States of America, Spain, the European Union and United Nations organisations.

According to the Ministry, foreign aid accounted for 93.2 percent of Sao Tome and Principe’s public investments in 2012 and the remaining 6.6 percent were provided by the archipelago’s internal resources. (macauhub)