African Development Bank donates 8.4 million euros to São Tomé and Príncipe

4 March 2013

São Tomé and Príncipe has received an 8.4 million euro donation from the African Development Bank (AfDB), the island country’s Planning and Finance Ministry announced in São Tomé.

The AfDB donation is meant to help São Tomé’s government improve economic and financial governance. The amount is co-financed by the African Development Fund and the Facilities for Fragile States.

The agreement to grant the donation was signed on 26 February in Tunis by São Tomé’s Minister of Planning and Finance, Hélio Almeida, and the vice-president of the African Development Fund, Aly Abou Sabaa.

Five projects budgeted at 33 million euros financed by the European Development Fund are currently under way in São Tomé and Príncipe. (macauhub)