Sao Tome and Principe - Economic and Financial Management Support Project (PAGEF)

The Economic and Financial Management Support Project (PAGEF) is designed for human and institutional capacity building. It is implemented in a context marked by increasingly bright prospects of the country joining the club of oil producers. To ensure project ownership at the national level, all stakeholders, notably the public administration, the private sector and civil society, are involved in the project design, preparation and implementation phases. This project comprises three components, namely: (i) Support for Planning, Public Finance Management and Transparency in the Oil Sector; (ii) Support for Improvement of the Private Sector Climate and Promotion of the Tourism Sector; and (iii) Project Management. The main expected outcomes of PAGEF implementation are: (i) improved public finance planning and management; (ii) improved domestic resource mobilization; (iii) greater public accountability; (iv) achievement of the status of Extractive Industries Transparency Initiative (EITI) compliant country; (v) enhanced private sector environment, in particular reduced costs of insularity; and (vi) greater promotion of small and medium-sized enterprises operating in the tourism sector, by particularly targeting women entrepreneurs and youths. The total cost of this project, which will span three years, is UA 7.04 million.