African Development Bank Group and Equatorial Guinea Approve Action Plan to Boost $167 Million Project Portfolio
The African Development Bank Group (AfDB) and the government of Equatorial Guinea have agreed on an action plan to improve how ongoing projects funded by the Bank perform within the country. This decision follows a joint review held from October 27 to 31, 2025, in Malabo, the capital of Equatorial Guinea. The review brought together government ministers, technical partners, and project management teams to discuss progress and challenges.
During the workshop, participants decided to create a coordinated system to monitor projects, enforce strict measures for tracking contracts, and ensure all financial duties are met timely. The review covered several key projects, including the Public Finance Modernization Support Programme (PAMFP), the Support for the Development of Value Chains in the Fisheries and Aquaculture Sector (PASPA), and a feasibility study to strengthen the digital ecosystem (PARED).
The analysis identified several problems slowing down project effectiveness. These included slow project launches, delays in setting up management teams, and slow responses from the Bank in approving project steps. Technical teams also faced challenges due to limited skills and unfamiliarity with the Bank’s rules on procurement, payments, and finance management.
Mouhamed Gueye, AfDB Divisional Manager for Social Development and Human Capital for Central and North Africa, said that the Bank will closely work with project management and focus on training in financial oversight and project tracking. He added that they will continue to engage partners to find additional funding for 2026 and later years.
Ladislao Ndong Ndong Bisó, Director General of Economic and Financial Organizations in Equatorial Guinea, representing the Minister of Finance, Planning, Economic Development and the Budget, stated that the exercise aimed to align actions with the country’s Agenda 2035. The review sought to analyze projects in depth, identify weaknesses, and measure progress to guide future investments.
Alongside the workshop, a financial clinic helped project managers understand the new accounting rules and AfDB’s financial procedures. A loan agreement for €58.61 million was also signed to fund the Project to Strengthen Human Capital in Support of Economic and Social Inclusion (PARCH).
The Bank’s delegation visited the PASPA project site to observe work on aquaculture infrastructure. The construction is expected to finish by early 2026. Equatorial Guinea joined the African Development Bank Group in 1975. The first project financed was in 1978, focusing on cocoa tree regeneration and worth nearly $9 million. Since then, the country has received 53 Bank-funded projects totaling $337.30 million.
Currently, six active projects in Equatorial Guinea make up a $167 million portfolio. The investments focus on social development (42.2%), agriculture (38.6%), governance (18.5%), and communications, ICT, and energy (0.7%).
Contact for more information:
Solange Kamuanga-Tossou
Department of Communications and External Relations
African Development Bank
Email: communication@afdb.org
#internationalfinancialnews #latestmarketregulations #globalfinancialupdates #financialnews2025 #internationalmarkettips #financialnews #economicheadlines #interestrateupdates #stockmarketalerts #bankfailurenews #inflationpolicychanges #cryptonewsupdates #centralbankannouncements #taxreformdelays #federalbudgetrequirements #marketsafetynews #investmenttrend2025 #economicforecastalerts #globaleconomicnews #newtradingbans #marketreopeningnews #beststocks2025 #financialinsurancenews #regulationguidelinechanges #bankstrikeupdates #globaleconomicdisruptions #breakingfinancialnews #notedmarketsectors #financialforecast2025 #newinvestmentroutes #globalfinancerules #safestplacestoinvest #financeindustrynews #investmentbanupdates #internationaltaxupdates #financebubblealerts #financialboardupdates #realtimemarketadvisories #policychanges2025 #embassyfinancealerts #latestfinancenews #livingmediterranean #retirementfinanceguide #retirementplanningnews #retirementinvestmenttips #globalretirementtrends #earlyretirementnews #retirementtaxstrategies #bestcountriesforretirement #retirementaccountupdates #retirementbudgeting #retirementfundingalerts #internationalretirementnews
