African Development Bank Group and Equatorial Guinea Sign Financing Agreement
The African Development Bank Group and the Republic of Equatorial Guinea signed a €58.61 million financing agreement on October 30, 2025, in Bata.
The agreement is for the implementation of the first phase of the Project to Strengthen Human Capital in Support of Economic and Social Inclusion (PARCH 1), focusing on youth inclusion and employment.
- Léandre Bassolé, Director of the African Development Bank for Central Africa, signed the agreement.
- Pedro Abeso Obiang Eyang, Deputy Minister for Finance and Budget and Alternate Governor of the Bank for Equatorial Guinea, also signed.
This marks the Bank's first investment in the country's human development sectors for 10 years.
Author's summary: African Development Bank signs €58m deal with Equatorial Guinea.