ERHC Energy Inc (ERHE)

[RubyMartin]

Sao Tome and Principe: France announces funding of agricultural projects in São Tome [ 2008-07-18 ]

(Awful Lot Of Countries Forgiving Debt & Funding/Loaning Money To Sao Tome and Principe Lately. Think Oil Might Have Anything To Do With It? R.M.)


Sao Tome, Sao Tome and Principe, 18 July – France is to provide funding of 5 million euros to Sao Tome and Principe for agricultural projects, French business attaché, Frederic Marlet said in Sao Tome Wednesday.

According to the French diplomat, who was speaking to the press following a meeting with agriculture, rural development and fisheries minister, Xavier Mendes, the funding will be provided by the French Development Agency.

"A team of French experts will arrive in Sao Tome in September on a working visit to set up a subsidiary for the projects we plan to support. When they arrive, we will have working meetings with the minister and other entities and, at that time, we will set out what will be done, within the scope of cooperation with France,” Marlet said.

The diplomat noted that rural and urban infrastrutures were amongst the projects that had been earmarked for funding.

On 15 March the French government wrote off a debt of 7.6 million euros owed to it by Sao Tome and Principe.

Of that amount, 7.26 million had been taken out by Sao Tome and Principe as part of the Paris Club and 0.34 million was bilateral debt. (macauhub)