Sao Tome and Principe have partnered with the World Bank to support sustainable development and growth. This is through a well-laid programme that supports the transition from public sector development to a better, inclusive, sustainable and growth plan. The initiative will run between 2024-2029.
With sustainable climate mitigation on top of the list, the Western African country joins nation’s like South Africa, Kenya, Egypt, and Tunisia to promote a green-economy.
The Santomean people are the greatest beneficiaries, with the young population urged to take advantage of the arising opportunities in the African climate sector. This includes investment and exploration of renewable resources.
According to Albert Zeufack, a World Bank Official in Africa, Sao Tome and Principe is naturally beautiful and holds great renewable resources, like fisheries that can support tourism, and climate-smart farming. He also stated that, “Continued investment in renewable energy, connectivity, and human capital will contribute to unleashing its potential.”
Also, part of the framework is to improve the country’s resilience to climate change. As a third world nation, it is vulnerable to weather-related calamities, further jeopardizing its environment, infrastructure, and economic growth.
This is a call to action for other private sectors to join in the Sao Tome and Principe push for sustainable economic growth. The country has enough potential to reward investors as well as help citizens, including women and the youth. Additionally, the framework is excellent for Africa’s push for net-zero emissions by 2050.
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