São Tomé and Príncipe secures loan from Equatorial Guinea

18 September 2019

Equatorial Guinea has granted a US$1.6 million loan to São Tomé and Príncipe, the Minister of Planning, Finance and Blue Economy Osvaldo Vaz announced on Tuesday in São Tomé.

The minister, quoted by the STP-Press news agency, also referred to October the signing of a new aid programme with the International Monetary Fund (IMF), “aimed at the sustainable growth of the country.”

Vaz’s statements came after his return from Malabo, the capital of Equatorial Guinea, where he signed this new 20-year repayable loan agreement as agreed between the two Governments.

In addition to this loan that will support the State Budget, Vaz gave assurances that the government of Equatorial Guinea had reiterated the openness and willingness to “cooperate with São Tomé and Príncipe, particularly in the areas of oil, transport, tourism, fisheries and agriculture.” (Macauhub)