Foreign aid provides almost all of Sao Tome and Principe’s public investment

26 February 2014

Public investment in Sao Tome and Principe through foreign aid in 2013 totalled 1.21 billion dobras (US$101 million), the archipelago’s Planning and Finance Ministry said Tuesday.

Figures from the ministry to which Macauhub was given access showed that foreign aid accounted for 93.5 percent of Sao Tome and Principe’s public investments in 2013 and the remaining 6.5 percent were provided by the archipelago’s internal resources.

Figures from the ministry showed that of the funding from foreign aid, 52 percent or US$53.5 million was in donations and the remaining 48 percent, or US$47.6 million was as loans.

Taiwan is Sao Tome and Principe’s biggest financier for public investment providing over US$15 million per year, followed by Angola, the European Investment Fund, Nigeria, Equatorial Guinea, Portugal, Brazil and United Nations agencies, amongst other bi-lateral and multi-lateral funding.

In 2012 public investments through external funding totalled US$69.3 million and 59 percent was provided through donations and 41 percent through loans. (macauhub)