African Development Bank donates US$8 million to Sao Tome and Principe

23 September 2013

The African Development Bank (ADB) has provided Sao Tome and Principe with over US$8 million, said the country’s Planning and Finance Minister, Hélio de Almeida Friday.

The funds will be used for the Project to Support Economic and Financial Management (PAGEF), a Sao Tome programme for economic diversification and growth over the next three years.

The minister said that the PAGEF programme is part of efforts to improve quality of life and poverty of the Sao Tome and Principe population.

The new ADB representative, Jaime Gama, said that the bank had provided the country with over US$20 million for a variety of national projects and noted the Project to Renew Infrastructure to Support Food Safety (PRIASA), which receive a donation of US$7 million. (macauhub)