Sao Tome and Principe - Zuntamon Lusophone Compact Initiative - Phase I (AFDB-P-ST-H00-003)

  • Sao Tome and Principe
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • African Development Bank (AFDB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Oct 6, 2021
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Government of Sao Tome and Principe
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 10.72 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Primary Source

Original disclosure @ AFDB website

Updated in EWS Nov 11, 2021

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

According to bank documents, the Zuntamon Lusophone Compact Initiative - Phase I Project aligns with Sao Tome and Principe's Vision 2030, which aims to promote national cohesion, macroeconomic stability, climate change resilience as well as improved governance for private sector-driven inclusive and sustainable economic growth. The Project will focus its interventions on commodities and services where women and youth are economically active, such as tourism, and that have growth potential through export, namely: cocoa, coconut, horticulture products, and fish. The focus on the aforementioned commodities and services is in line with the Government of STP's COVID-19 post-pandemic economic recovery strategies, which place great emphasis on supporting affected businesses and bolstering the recovery in key industries such as agriculture, fisheries, tourism, and hospitality. The Zuntamon Initiative is therefore a solution that seeks to unblock certain countryspecific bottlenecks to private sector-led growth, while contributing towards a more resilient economy. The Project estimated at UA 7.50 million and fully funded by the ADF will focus on both islands of Sao Tome and Principe. It will be implemented over a four-year period.

The goal of this Project is to improve the business environment, capacity, and access to markets and finance for SMEs, and therefore their contribution to the economy and job creation. The specific objectives are to: (i) Enhance institutional and administrative capacity to be more effective in meeting the needs of STP's private sector and attract foreign investments; (ii) Establish the governance and operational structures for improving STP's business environment; (iii) Build the capacity of SMEs in growing their businesses and their readiness for financing, including women and youth-led SMEs; (iv) Unlock key value chain efficiency and quality constraints; and (v) Establish the structures and financing to provide quality and affordable access to finance for SMEs.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

Contact Information
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NDAO Joséphine Aissatou 


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