The African Development Bank Group and the government of São Tomé and Príncipe have intensified efforts to strengthen the Bank’s €72 million portfolio in the country, aiming to accelerate economic diversification. The initiative was highlighted during a recent Country Portfolio Performance Review (CPPR) workshop, where Minister of State for the Economy and Finance Gareth Guadalupe described the Bank’s lending portfolio as a vital tool for national development and emphasized the government’s commitment to creating a robust legal framework to enhance the investment environment.
The workshop also underscored the role of the forthcoming National Development Plan as a strategic blueprint for aligning African Development Bank investments with national priorities, ensuring efficiency and synergy in project execution. The Bank’s country portfolio, as of June 30, 2025, comprises ten operations across agriculture and rural development, multi-sector finance, and energy, reflecting its strategic partnership with São Tomé and Príncipe.
Key government officials, including the Ministers of Agriculture and Rural Development and Infrastructure and Natural Resources, participated in the two-day workshop, demonstrating the government’s commitment to accelerating project delivery and maximizing economic impact. The event also involved implementing agencies, project coordinators, Bank representatives, and international development partners such as the United Nations, IMF, World Bank, and the European Union.
The African Development Bank’s Country Manager for Angola and São Tomé and Príncipe, Pietro Toigo, emphasized the importance of establishing a formal government-led coordination platform to optimize resources, accelerate the energy transition, and engage the private sector to foster a more diversified economy. Despite geopolitical challenges, Toigo expressed confidence in the country’s growth potential, citing its young population and strategic location in the Gulf of Guinea.
The CPPR serves as an interactive assessment tool that goes beyond traditional monitoring by identifying systemic challenges, tracking project execution quality, and generating actionable intelligence to guide future assistance strategies. The review’s outcomes will inform targeted action plans to strengthen delivery mechanisms, improve coordination among development partners, and ensure investments produce tangible improvements in agriculture, energy access, financial inclusion, and rural livelihoods.
