![](http://investorshub.advfn.com/images/default_ih_profile2_4848.jpg?cb=0)
Saturday, June 14, 2008 4:10:15 AM
Sao Tome, Sao Tome and Principe, 13 June – The World Bank has decided to approve a loan of US$6 million to Sao Tome and Principe to combat the poverty that affects almost 53 percent of the Sao Tome population, the archipelago’s national radio station reported.
According to Sao Tome and Prancipe state radio, the loan approved Tuesday in Washington, United States, essential aims to implement reforms in the tax sector as well as provide investment in the health, education and infrastructure sectors.
The funds from the World Bank will also be injected into projects for management of natural resources as well as governance activities in the oil sector, in partnership with the initiative for transparency in the extractive industries in order to ensure the economic stability of the archipelago, the radio station reported.
At the beginning of 2007, the World Bank and the International Monetary Fund (IMF) decided to pardon 90 percent of Sao Tome and Principe’s external debts as part of a financial programme aimed at correcting the country’s macroeconomic imbalances.
The World Bank has supported Sao Tome and Principe within the framework of a process of oil exploration in the seas off the archipelago, by training staff and providing technical assistance. (macauhub)
Recent ERHE News
- Form SC 13G - Statement of acquisition of beneficial ownership by individuals • Edgar (US Regulatory) • 02/06/2024 07:31:22 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 12/08/2023 09:06:42 PM
Glidelogic Corp. Becomes TikTok Shop Partner, Opening a New Chapter in E-commerce Services • GDLG • Jul 5, 2024 7:09 AM
Freedom Holdings Corporate Update; Announces Management Has Signed Letter of Intent • FHLD • Jul 3, 2024 9:00 AM
EWRC's 21 Moves Gaming Studios Moves to SONY Pictures Studios and Green Lights Development of a Third Upcoming Game • EWRC • Jul 2, 2024 8:00 AM
BNCM and DELEX Healthcare Group Announce Strategic Merger to Drive Expansion and Growth • BNCM • Jul 2, 2024 7:19 AM
NUBURU Announces Upcoming TV Interview Featuring CEO Brian Knaley on Fox Business, Bloomberg TV, and Newsmax TV as Sponsored Programming • BURU • Jul 1, 2024 1:57 PM
Mass Megawatts Announces $220,500 Debt Cancellation Agreement to Improve Financing and Sales of a New Product to be Announced on July 11 • MMMW • Jun 28, 2024 7:30 AM