World Bank announces three-year support plan for Sao Tome and Principe
The World Bank will support Sao Tome and Principe with a US$75 million grant awarded over the next three years, Elisabeth Huybens, head of a World Bank mission to the West African archipelago said on Wednesday in Sao Tome.
Huybens, a Belgian citizen who joined the World Bank in 2000 and currently serves as regional operations director for Central Africa, also said that the grant, to be awarded after 2018, will be mainly applied to the energy, environmental protection, education and institutional training sectors.
“We will continue to help Sao Tome and Principe in the energy sector, repairing roads and protecting against climate change, as well as in education, social protection and institutional training,” said the head of the World Bank mission.
Huybens added that the increase in aid to Sao Tome and Principe is due both to “the country’s good macroeconomic performance,” over the last two years and to the new focus of the International Development Association, the Bank’s agency to help the world’s poorest countries.
Huybens said the IDA’s new orientation favours the support and increase of financial donations to resource-poor countries such as Sao Tome and Principe.
In addition to meetings with the Sao Tome authorities, the World Bank mission will evaluate the modernisation works of a US$ 16 million renewable energy project co-financed by the World Bank through a grant from the IDA in July 2016.