AfDB deepens Central Africa engagement with €58m youth empowerment deal, Congo partnership boost

The African Development Bank Group (AfDB) has stepped up its investment drive across Central Africa, signing a €58.6 million financing agreement with Equatorial Guinea to promote youth employment and skills development, while also consolidating its partnership with the Republic of Congo to advance economic diversification and regional integration.

In Equatorial Guinea, the agreement, signed on 30 October 2025 in Bata, marks the Bank’s first major investment in the country’s human development sector in a decade. The financing will support the first phase of the Project to Strengthen Human Capital in Support of Economic and Social Inclusion (PARCH 1), aimed at equipping young people with the technical and entrepreneurial skills needed to drive private sector-led growth.

Léandre Bassolé, AfDB’s Director for Central Africa, and Pedro Abeso Obiang Eyang, Equatorial Guinea’s Deputy Minister for Finance and Budget, signed the pact on behalf of their respective institutions.

The project’s first phase will train nearly 2,000 young people – 45 per cent of them women – create 4,500 jobs, and establish 500 youth- and women-led businesses. It will also see the construction of two climate-resilient polytechnic institutes in Mongomo and Luba. In addition, the initiative will promote internships, incubators, and entrepreneurship support funds to strengthen the link between training and employment.

“This project bridges the gap between the infrastructure built over the last few decades and the skills that are needed to bring it to life, maintain it, and transform it into sustainable wealth,” Bassolé said. “By training a skilled and enterprising young workforce, Equatorial Guinea is creating the conditions for shared prosperity.”

Deputy Minister Obiang Eyang hailed the agreement as “a strategic investment in the future of our youth,” adding that it would lay the foundation for a diversified and resilient economy.

The total project cost is €73.27 million, with the government contributing €14.65 million. As of August 2025, AfDB’s portfolio in Equatorial Guinea comprises five operations valued at about €85.6 million, largely focused on agriculture and governance.

Meanwhile, in the Republic of Congo, a high-level AfDB delegation led by Senior Vice President Marie-Laure Akin-Olugbade met with President Denis Sassou Nguesso and senior officials in Brazzaville between 26 and 28 October 2025. The visit reinforced the Bank’s commitment to supporting Congo’s economic transformation agenda and preparations for hosting the Bank’s 2026 Annual Meetings in the capital.

Discussions with top government officials – including Minister of State for Public Works Jean Jacques Bouya and Minister of Planning Ludovic Ngatsé -centred on advancing key projects in transport, energy, agriculture, and digital infrastructure, as well as regional integration efforts aligned with the African Continental Free Trade Area (AfCFTA).

Minister Ngatsé described the mission as “a new stage in the exemplary partnership between Congo and the African Development Bank,” commending the Bank’s support for national priorities in economic diversification and agricultural transformation.

Akin-Olugbade reaffirmed AfDB’s dedication to helping Congo deliver its 2022–2026 National Development Plan, noting that ongoing cooperation covers flagship infrastructure such as the Ndendé-Dolisie and Ketta-Djoum roads, fibre optic connectivity across Central Africa, and agricultural value chain development projects.

Preparations for the 2026 Annual Meetings are being coordinated by a National Preparatory Committee headed by Minister Bouya. A memorandum of understanding for hosting the event was signed in September 2025, formalising Congo’s readiness.

“The 2026 Annual Meetings will provide a unique platform to showcase Congo’s economic potential, reforms, and infrastructure development,” Akin-Olugbade said.

With an active Congolese portfolio worth $223 million and a renewed €58.6 million investment in Equatorial Guinea, the AfDB is strengthening its footprint in Central Africa – prioritising human capital, infrastructure, and regional integration as key drivers of sustainable growth.