Taiwan provides US$15 million to São Tomé and Príncipe

31 December 2015

Taiwan has provided funding of US$15 million to São Tomé and Príncipe for 2016, under the new annual programme of bilateral cooperation, signed Wednesday in São Tomé.

In a ceremony held at the Ministry of Foreign Affairs, the new document was signed by the São Tomé Minister for the Economy and International Cooperation, Agostinho Fernandes and Taiwanese representative, Miguel Her in the presence of the São Tomé Minister of Finance, Américo Ramos.

Minister Agostinho Fernandes said that infrastructure and agriculture were the sectors that would receive the biggest investment in 2016, followed by health, education, tourism and youth entrepreneurship.

Her added that Taiwan intends to support the São Tomé private sector through business exchanges in the coming months. He said trade groups from São Tomé were expected to take part in the Taipei Economic Forum scheduled for next April, and the hosting of the Taiwan International Trade Fair in the capital of São Tomé and Principe.

The Taiwan representative also said that this cooperation programme unlocks funds for measures included in projects already designed by the São Tomé authorities and approved by the Taiwanese authorities in the context of bilateral cooperation.

It is estimated that Taiwan has provided over US$250 million in funding since the establishment of relations with São Tomé and Príncipe in 1997. (macauhub/ST)