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US $2 million to reduce poverty

    ABIDJAN

    The African Development Fund (ADF) has approved a US $2-million loan for Sao Tome’s third structural adjustment programme, the ADF announced on Wednesday. The programme will support political and budgetary reforms and promote private-sector activities as a means of creating employment and generating income. The Fund hopes that by the end of this phase, GDP would have increased and the inflation rate would have decreased. The 12-month loan goes into effect in May. The ADF, set up in 1972, is the small-loans branch of the African Development Bank Group. It focuses mainly on poverty reduction.

    This article was produced by IRIN News while it was part of the United Nations Office for the Coordination of Humanitarian Affairs. Please send queries on copyright or liability to the UN. For more information: https://shop.un.org/rights-permissions

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