AfDB Group Supports Livestock Sector in Sao Tome and Principe
Tunis, 31 May 2006 - The African Development Fund (ADF), the concessional window of the African Development Bank (ADB) Group, will support a project to improve livestock productivity in the Republic of Sao Tome and Principe. The ADF Board today approved a grant of 4 million Units of Account (UA*), equivalent to US$ 5.88 million, for the partial financing of a 5-year Livestock Development Support Project Phase II (LDSP II) in the country.
The project will strengthen food security by improving the productivity of livestock farms on a sustainable basis, providing support to operators in the livestock sub-sector, improving the conditions for rearing livestock and providing support to development research activities as well as livestock products processing and marketing.
A total of 20,000 livestock-breeding families will benefit from the project. The main components of the project include: capacity building; livestock productivity improvement and processing, livestock product marketing as well as project management.
The total project cost is estimated at UA 4.45 million (US$6.38 million). The ADF grant will finance 90% of the total costs. The Government will contribute UA 0.45 million (10%) of the total costs.
The Bank Group's operations in Sao Tome and Principe started in 1978. To date, the cumulative commitment of the ADB Group in the country amounts to about UA 87.55 million, equivalent to 1,342 billion STD in 28 operations.
* UA 1 = USD 1.47106=16,689 STD as at 29/05/2006