The main objective of this report is to contribute to the development of São Tomé and Príncipe’s financial sector and provide its Government and private stakeholders with a clear roadmap for reform in key policy areas, particularly regarding efforts to strengthening financial sector soundness, enhance financial inclusion, and upgrade existing financial infrastructure.
... See More + The report includes a sequenced implementation plan designed to enable the authorities to implement critical financial sector reforms and interventions, designed to foster a more efficient, sound and inclusive financial sector in São Tomé and Príncipe based on a coherent policy framework.
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Ratings for the First Governance and Competitiveness Development Policy Operation Project for Sao Tome and Principe were as follows: outcomes were unsatisfactory, risk to global environment outcome was moderate, Bank performance was moderately satisfactory, and Borrower performance was moderately satisfactory.
... See More + Some lessons learned included: (i) the need for coordination with other international financial institutions to ensure a consistent policy approach; (ii) designing an implementing an effective dissemination strategy to help foster a broad consensus; (iii) identifying capacity bottlenecks as a critical issue to move reforms forward; and (iv) adopting simple M&E systems and include easy to monitor indicators and program goals; (iv) close and constant follow up with the authorities and other development partners is crucial to maintaining accurate and timely information concerning government actions that affect macro stability; (v) importance of choosing implementing agencies that have already built capacity to move forward with reforms and follow up on status of indicators; and (vi) more resources to be more effective.
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Implementation Completion and Results Report ICR00003735 JUN 14, 2016
The objectives of the Power Sector Recovery Project for Sao Tome and Principe are to (i) increase renewable energy generation and (ii) improve the reliability of the electricity supply.
... See More + There are four components to the project, the first component being support for electricity institutional reform and sector planning. This component will finance a combination of capacity building, action plans, road maps, and studies that will: (a) strengthen the capacity of the regulatory agency, and (b) ensure planning of optimum investments needed to develop the power sector in Sao Tome and Príncipe, from electricity generation to the effective connection of end users. Subcomponents include the following: reinforcement of the power sector regulatory agency; development of an integrated least cost power development plan; electricity demand forecast for Sao Tomé and Príncipe; and tariff study. The second component is the strengthening the operational performance and governance of EMAE. This component will comprise the preparation and endorsement of a Management Improvement Plan (MIP) for EMAE for a three-year period, focused on improving efficiency, transparency, and accountability of EMAE’s performance in the key operational areas of electricity supply, commercial functions, and management of corporate resources, with specific emphasis on better service quality and nontechnical loss reduction. The third component is the investing in enhanced reliability of electricity generation, transmission, and distribution. This component will finance priority investments in the rehabilitation and potential expansion of the Contador small hydropower plant, the rehabilitation of the Contador evacuation line and medium voltage (MV) network, and the upgrading of existing low voltage (LV) network in selected districts of the country. Finally, the fourth component is the project implementation support. This component will finance project implementation support, including training for staff in AFAP, the project implementing agency, on procurement and fiduciary duties. Technical training, in particular on O&M issues, will be provided to EMAE technical staff supervising project implementation.
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