The African Development Bank has reaffirmed its commitment to São Tomé and Príncipe's development path during a three-day mission by Executive Director Samson Oyebode Oyetunde and Alternate Executive Director Maria das Neves, who met key national stakeholders and visited strategic Bank-financed projects across the country.
Over the course of the mission, the delegation engaged with the country's top leadership and highlighted continued support for economic diversification, food security, and a clean energy transition.
During a three-day mission to São Tomé and Príncipe, The Executive Director of the African Development Bank for Nigeria, São Tomé and Príncipe, Samson Oyebode Oyetunde, and Alternate Executive Director, Maria das Neves, held high-level meetings with key government officials and visited Bank-financed projects.
Accompanied by the Bank's Country Manager for Angola and São Tomé and Príncipe, Pietro Toigo, the delegation met with the President of the Republic; the Prime Minister; the Minister of State for Economy and Finance and Governor of the African Development Bank for São Tomé and Príncipe; the Minister of Infrastructure and Natural Resources; the Minister of Agriculture, Rural Development and Fisheries; and the Acting Governor of the Central Bank.
Oyetunde emphasized the African Development Bank's significant impact in the country, stressing how ongoing projects have transformed local communities. He highlighted the Infrastructure Rehabilitation for Food Security Support Project (PRIASA), which has improved food security conditions, as well as the rehabilitation of critical rural infrastructure such as support infrastructure such as roads and markets. The Executive Director drew attention to underscored the importance of continuing the partnership with the government in the agriculture sector.
During his meeting with Prime Minister Américo Ramos, Oyetunde discussed the Bank's recent support for development projects in the archipelago. He mentioned the recent approval of a $7.5 million grant from the Nigerian Government, to be channeled through the Nigerian Trust Fund, to support the country's macroeconomic stability in response to the global geopolitical context and economic tensions.
São Tomé and Príncipe benefits from the African Development Fund's multi-cycle financing window, providing sustained support for the country's development priorities.
The delegation explained that Bank-funded projects incorporate strong environmental protection and social components, with a focus on creating better opportunities for youth and women.
Discussions also focused on critical infrastructure projects, including airport and maritime facilities--key to addressing the connectivity challenges facing the island nation and promoting regional integration.
During the visit, Executive Director Oyetunde toured the CECAB cocoa cooperative and its chocolate factory, financed through the PRIASA programme, and attended the inauguration of the Santo Amaro 1.2 MW power station, a critical Bank-financed project supporting the country's energy transition.
"These two field visits have highlighted a clear path for development for São Tomé e Príncipe, based on a fast energy transition to reduce dependency on imported fossil fuels, while developing a domestic processing capacity in high-value, low environmental impact agricultural commodities," Oyetunde said. "Both the Government of Nigeria and the African Development Bank stand behind São Tomé e Príncipe's efforts in this direction."
The Bank initiated its operations in São Tomé and Príncipe in 1978 and has since approved 64 projects (loans and grants) totaling $340.93 million. These investments have supported diverse sectors, including agriculture, energy, finance, water and sanitation, transport, telecommunications, and social development.
Last year, the Bank approved the Country Strategy Paper (CSP) 2024-2029, designed to support São Tomé and Príncipe in expanding its production base, diversifying its economy, and transitioning toward high-value activities that generate decent jobs and inclusive growth.
The CSP is anchored in two strategic priorities: the development of agricultural and blue economy value chains; and the promotion of energy transition and regional transport connectivity. Key sectors include agriculture and the blue economy under Priority Area 1, and energy and transport under Priority Area 2.
