AfDB and Equatorial Guinea reviewed a $167m project portfolio last Thursday, agreed on fixes for delays, strengthened oversight, and signed a new €58.61m human-capital development loan.
The African Development Bank (AfDB) has concluded a review of its $167 million project portfolio in Equatorial Guinea, after a five-day assessment that ended last Thursday, the Bank said.
The mission brought together government officials and AfDB teams who examined delays affecting ongoing programmes.
Many cited slow mobilisation after approvals, gaps in technical expertise and challenges navigating the Bank’s procurement rules. Others said project teams were often appointed late, slowing early progress.
AfDB representatives said they would work more closely with local project units and expand hands-on support to help teams manage funds and meet deadlines.
“The Bank is developing close management relations with project management units and stepping up capacity building,” said Mouhamed Gueye, speaking for the Central Africa regional office.
Government officials said the review helped them identify which systems were functioning well and which needed strengthening to align with national priorities under Agenda 2035. The active portfolio includes programmes in public finance reform, fisheries and aquaculture, and digital ecosystem expansion.
During the mission, the two sides signed a €58.61 million loan for a human capital development programme. A field visit to the PASPA aquaculture project showed infrastructure works progressing, with completion expected in early 2026.
Equatorial Guinea has received 53 AfDB-financed projects since joining the Bank in 1975, totalling $337.3 million. The current portfolio is concentrated in social development, agriculture, governance, ICT and energy.
