The World Bank will provide US$10 million to finance social projects in São Tomé and Príncipe, aiming, above all, to reduce social inequalities and fight poverty in the archipelago over the next 5 years, a World Bank official said on Wednesday in São Tomé.
Éric Sapatéro announced the funding at a meeting attended by the Sao Tome Minister for Employment and Social Affairs, Emilio Lima, who on behalf of the government thanked the World Bank for the financial support.
In addition to the “US$5 million for social housing projects,” Sapatéro said that “the other five million will cover vocational courses,” and other actions within the scope of projects submitted by the Ministry of Employment and Social Affairs of São Tomé and Prince.
It is estimated that the project will benefit more than 2,500 families, as well as boosting the capacity of the Ministry of Employment and Social Affairs through equipment and staff training, in addition to granting support to the neediest people and follow-up activities.
This funding is in addition to an “energy recovery” project already underway in São Tomé and Príncipe since 2016 with financial support of US$29 million granted by the World Bank. (macauhub)