UN guarantees US$150 million to São Tomé and Príncipe

The United Nations and the São Tomé government signed a cooperation agreement worth an unprecedented US$150 million, to be implemented by 2027, which, for the first time, also involves multilateral financial institutions.

At the signing of the agreement with the Prime Minister, Patrice Trovoada, the United Nations coordinator in São Tomé and Príncipe, Eric Overvest, said that it was “a really ambitious plan, different from the previous ones and that was drawn up in a paradigm shift logic, more action, greater coordination, doing more and more together”.

According to Lusa, Eric Overvest explained that, of the total funding, US$50 million has already been secured and that the financial resources of this cooperation framework result from a joint effort by several donors and partners.

In turn, the Prime Minister of São Tomé and Príncipe, Patrice Trovoada, considered that the step taken represents a whole set of actions that are in line with the Government’s program, stressing that the agreement represents all the capabilities of the multilateral international community to be able to support the São Tomé people.

The head of the Government of São Tomé and Príncipe stated that the total amount foreseen leaves a lot of confidence that it will be possible to achieve the objectives of combating poverty and inequalities of all kinds, so that it will be possible to develop the country in a more robust way.

With information from Forbes

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