On October 30, the Bank Group African Development Agency and the Republic of Equatorial Guinea have signed Bata, a financing agreement of 58.61 million euros. This sum is aimed at implementation of the first phase of the Human Capital Building Project in support of economic and social inclusion (PARCH 1).

PARCH 1 intends to improve the quality and the offer of training to increase access to employment for young girls and boys Equatorial Guineans for growth driven by the private sector. Léandre Bassolé, Director General of the African Development Bank for Central Africa and Pedro Abeso Obiang Eyang, Deputy Minister of Finance and of the Budget and Alternate Governor of the Bank for Equatorial Guinea, have initialled the agreement that marks the return of the Bank's investments in sectors of human development in the country over the past ten years.
This first phase includes the training of nearly 2,000 young people, including 45 per cent of young women, the creation of 4,500 jobs, the establishment of 500 businesses run by young people and women, the construction of two Provincial polytechnic institutes out of five in Mongomo and Luba according to international standards and climate sustainability. The project will mobilize also the private sector through internship opportunities for the benefit of trained young people, the establishment of incubators and support funds for entrepreneurship.
According to Bassolé, “this project is the bridge between infrastructures. built over the last few decades and the necessary skills to make them live, maintain them and transform them into lasting wealth. By training qualified and enterprising youth, Equatorial Guinea is creating the conditions for shared prosperity, where knowledge comes first resource of the country”.

For his part, Obiang Eyang indicated that “this financing represents a strategic investment. in the future of our youth. By developing the skills of our young people in promising sectors, we are laying the foundations for a diversified economy and resilient, capable of creating sustainable opportunities for all Equatorial Guineans