By Smart Emmanuel,
The African Development Bank Group (AfDB) has launched a comprehensive action plan to improve the performance of its projects in Equatorial Guinea, aiming to accelerate development and support the government’s Agenda 2035.
The initiative follows a joint portfolio review in Malabo from 27 to 31 October, which assessed the effectiveness of ongoing projects and identified key challenges, including delayed start-ups, gaps in technical capacity, and limited familiarity with AfDB procedures for procurement and financial management.
“The Bank is strengthening management of project units and providing targeted training in fiduciary management and monitoring,” said Mouhamed Gueye, AfDB Divisional Manager for Social Development and Human Capital, representing the Bank’s Director General for Central Africa. “We are also working closely with partners to secure additional co-financing for 2026 and beyond.”
The action plan introduces a coordinated project monitoring system, rigorous oversight mechanisms, and capacity-building initiatives, such as a fiduciary clinic for project managers. It also aims to ensure compliance with contractual and financial obligations across all projects.
Key projects include the Public Finance Modernization Support Programme (PAMFP), the Support for Development of Value Chains in Fisheries and Aquaculture (PASPA), the digital ecosystem project (PARED), and the €58.61 million human capital development initiative (PARCH). A field visit to PASPA confirmed significant progress on aquaculture infrastructure, scheduled for completion in early 2026.
“This review helps us identify gaps, align projects with Agenda 2035, and define priorities and funding for future initiatives,” said Ladislao Ndong Ndong Bisó, Director General of Economic and Financial Organizations, representing Equatorial Guinea’s Minister of Finance.
Equatorial Guinea has been a member of the AfDB since 1975, benefiting from 53 operations totaling $337.3 million. Its current portfolio of six active projects, worth $167 million, focuses on social development, agriculture, governance, and ICT/energy sectors.
