Abidjan, Nov. 4, 2025 (Lusa) - The African Development Bank (AfDB) will provide €58.6 million to Equatorial Guinea for a project to strengthen human capital for 2,000 young people, which is expected to create 4,500 jobs and 500 new businesses.

"The €58.61 million financing agreement for the implementation of the first phase of the Project to Strengthen Human Capital in Support of Economic and Social Inclusion (PARCH 1) provides for the training of around 2,000 young people, 45% of whom are women, the creation of 4,500 jobs, the creation of 500 companies run by young people and women, and the construction of two provincial polytechnics in Mongomo and Luba, in accordance with international standards and climate sustainability," reads a statement from the AfDB.

The agreement was assigned by the AfDB's Director General for Central Africa,LéandreBassolé, and the Deputy Minister of Finance and Budget of Equatorial Guinea, Pedro Abeso Obiang Eyang, and aims to improve the quality and supply of training, to increase access to employment for young Equatoguineans, boys and girls, for growth driven by the private sector.

With a total cost of €73.27 million, the project will also be partially funded by the Government of Equatorial Guinea, which will contribute €14.65 million.

The AfDB has five ongoing operations in Equatorial Guinea totalling around €85.6 million, more than half of which is in agriculture.

MBA/ADB // ADB.

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