AfDB and Equatorial Guinea Approve Action Plan to Boost Development Project Performance

“Strengthening fiduciary knowledge and administrative capacity is crucial to ensuring that projects deliver timely results,” Gueye emphasized.

The African Development Bank Group (AfDB) and the Government of Equatorial Guinea have jointly approved a new action plan to enhance the effectiveness and impact of the Bank’s portfolio in the country. The move follows a comprehensive portfolio performance review, aimed at improving project execution, strengthening accountability, and aligning future investments with the country’s national development strategy, Agenda 2035.

Held from 27–31 October in Malabo, the nation’s capital, the review brought together senior government officials, AfDB representatives, technical partners, and project implementation teams to assess progress on ongoing operations and identify bottlenecks affecting delivery.

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Strengthening Portfolio Performance and Accountability

The review revealed that while AfDB-financed projects continue to make significant contributions to Equatorial Guinea’s socio-economic development, several operational inefficiencies have slowed their implementation. Key challenges identified included delays in project start-ups, slow establishment of management units, and procedural bottlenecks such as the delayed issuance of no-objection notices.

To address these issues, participants adopted a joint action plan designed to:

• Establish a coordinated project monitoring system to enhance oversight and accountability.

• Implement rigorous mechanisms for tracking contractual commitments and disbursements.

• Ensure timely compliance with financial obligations and fiduciary requirements.

• Build technical and managerial capacity among local project management units.

“The Bank is developing close management relations with project management units and stepping up capacity building through targeted training in fiduciary management and monitoring and evaluation,” said Mouhamed Gueye, Divisional Manager for Social Development and Human Capital for Central and North Africa, representing Léandre Bassolé, Director General of the Bank Group for Central Africa.

“We are also maintaining close dialogue with partners to mobilize more co-financing under the 2026 lending programme and beyond,” he added.

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Reviewing Key Projects and Identifying Priority Sectors

The portfolio review focused on several major ongoing initiatives that represent the Bank’s strategic investment priorities in Equatorial Guinea:

1. Public Finance Modernization Support Programme (PAMFP) – aimed at improving transparency, efficiency, and governance in public financial management.

2. Support for the Development of Value Chains in the Fisheries and Aquaculture Sector (PASPA) – focused on expanding sustainable aquaculture and fisheries production to strengthen food security and rural employment.

3. Feasibility Study Project for Support for the Strengthening of the Digital Ecosystem (PARED) – designed to advance digital inclusion and technology infrastructure.

These projects are central to the AfDB’s strategy to diversify Equatorial Guinea’s economy beyond hydrocarbons, promote sustainable agriculture, and strengthen human capital development.

“This exercise had several objectives: to ensure that our actions are aligned with Agenda 2035, to review our project portfolio in detail, to identify shortcomings in their implementation, and to assess their level of progress,” said Ladislao Ndong Ndong Bisó, Director General of Economic and Financial Organizations, representing Minister of Finance, Planning, Economic Development and Budget, Iván Bacale Ebe Molina.

“The results will help define the direction and financing terms for future projects,” he added.

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Expanding Training and Capacity Building

To support improved project delivery, the review included a fiduciary clinic for project managers and financial officers, focusing on the Bank’s financial management standards, procurement procedures, and the new accounting framework. This training was intended to strengthen institutional capacity and reduce procedural delays that often hinder project efficiency.

“Strengthening fiduciary knowledge and administrative capacity is crucial to ensuring that projects deliver timely results,” Gueye emphasized.

As part of its commitment to capacity building, the AfDB will also conduct targeted workshops and technical missions in 2025 to help project management units better understand disbursement rules, procurement systems, and monitoring tools.

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New Loan for Human Capital and Social Inclusion

During the same week, the AfDB and the Government of Equatorial Guinea signed a €58.61 million loan agreement for the Project to Strengthen Human Capital in Support of Economic and Social Inclusion (PARCH).

The PARCH initiative focuses on expanding access to education and vocational training, enhancing social protection systems, and fostering economic opportunities for women and youth. It is expected to play a pivotal role in reducing inequality and supporting the country’s transition toward a more inclusive, knowledge-based economy.

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Field Visit: Progress in Fisheries and Aquaculture

The AfDB delegation also visited the PASPA project sites, where significant progress has been made in constructing new aquaculture infrastructure. The project aims to strengthen value chains across the fisheries sector, increasing productivity while promoting environmental sustainability.

The construction works are on track for completion in the first quarter of 2026, a milestone expected to boost local employment and generate additional income opportunities for coastal communities.

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AfDB’s Longstanding Partnership with Equatorial Guinea

Equatorial Guinea has been a member of the African Development Bank Group since 1975, marking nearly five decades of partnership. The Bank’s first financing operation, approved in 1978, supported a cocoa tree regeneration project valued at nearly US$9 million.

Since then, the Bank has financed 53 operations in the country, with a cumulative commitment of US$337.3 million. The current active portfolio includes six projects totaling approximately US$167 million, distributed across key development sectors:

• Social sector: 42.2%

• Agriculture: 38.6%

• Governance: 18.5%

• Communications, ICT, and energy: 0.7%

These investments reflect the Bank’s strategy to strengthen economic diversification, foster social inclusion, and modernize governance institutions.

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Looking Ahead: Building an Effective and Inclusive Development Partnership

The approved Action Plan marks a new phase in AfDB’s engagement with Equatorial Guinea, one focused on efficiency, transparency, and results-based management. By establishing stronger project monitoring frameworks and enhanced institutional capacity, the Bank and the government aim to accelerate the impact of ongoing operations and lay the foundation for future investments.

The next steps will include:

• Regular joint performance reviews to track project implementation.

• Accelerated disbursement schedules for active projects.

• Stronger collaboration between AfDB, government agencies, and development partners to mobilize additional co-financing.

• Enhanced monitoring and evaluation systems to ensure long-term sustainability.

As the country continues implementing Agenda 2035, this renewed cooperation with the AfDB will play a central role in achieving sustainable economic diversification, social progress, and institutional modernization — setting a new benchmark for development effectiveness in Central Africa.