The African Development Bank Group and the government of São Tomé and Principe have redoubled efforts to strengthen the Bank's €72 million portfolio in the country and drive the country's economic diversification.
"The African Development Bank's lending portfolio in São Tomé and Principe represents a vital tool for development", Minister of State for the Economy and Finance, Gareth Guadalupe, said at a recent Country Portfolio Performance Review workshop in the country. "We are committed to creating an investment environment backed by a robust legal framework to enhance the country's investment environment."
The minister emphasized that the government's forthcoming National Development Plan creates a strategic blueprint for aligning Bank investments with national priorities, ensuring maximum synergy and efficiency.
The African Development Bank is a strategic partner for São Tomé and Príncipe. On June 30, 2025, its country portfolio comprised 10 operations, spanning agriculture and rural development, multi-sector finance, and energy.
Guadalupe was joined by Minister of Agriculture and Rural Development Nilton Garrido, as well as Minister of Infrastructure and Natural Resources Nelson Cardoso, underscoring the government's commitment to accelerating project delivery and economic impact.
The two-day workshop aimed to enhance the Bank's operational effectiveness in São Tomé and Principe for economic diversification and overall growth.
Other senior government officials attended the workshop, along with implementing agencies and coordinators of projects financed by the Bank, as well as partners in project implementation, Bank representatives, and development partners, including representatives from the United Nations system, the International Monetary Fund, the World Bank, and the European Union.
The minister stated that the government was currently finalizing the country's National Development Plan for 2026-2030, which was due for approval by the end of July 2025, and discussed the Bank's strategic role in the country's economic transformation.
The African Development Bank's Country Manager for Angola and São Tomé and Principe, Pietro Toigo, emphasized the importance of establishing a formal coordination platform led by the government to optimize resources and achieve greater efficiency. He also noted the need to accelerate the energy transition and encourage the private sector to promote a more diversified economy.
Despite the difficulties linked to geopolitical headwinds, Toigo expressed confidence in the country's growth, remarking that: "São Tomé and Príncipe has considerable assets, with a young population and strategic geographical location in the Gulf of Guinea."
The Country Portfolio Performance Review (CPPR) serves as an interactive assessment tool that goes beyond traditional monitoring. It identifies systemic challenges in portfolio management, tracks project execution quality, and generates actionable intelligence for future country assistance strategies.
The review's findings will inform targeted action plans to strengthen delivery mechanisms, enhance coordination among development partners, and ensure that investments yield tangible improvements in agriculture, energy access, financial inclusion, and rural livelihoods.
