The European Union (EU) will donate 28 million euros to São Tomé and Príncipe over the next five years, said the director general of EU International Cooperation and Development, Fernando Melo.

“The European Union has just agreed to provide São Tomé and Príncipe with financial support of 28 million euros over the next five years, in the form of budget support for development projects and programmes,” he said, cited by Portuguese news agency Lusa.

Melo is in São Tomé and Príncipe to attend the eleventh meeting of national coordinators of the European Development Fund (EDF), of the Regional Indicative Programme of cooperation between the Portuguese-speaking African countries with Timor-Leste and the European Union (PIR PALOP-TL / EU).

The EU Director-General of International Cooperation and Development said that during the five-year period additional resources could be mobilised if the money is well managed. (macauhub/ST)