Equatorial Guinea has joined the African Finance Corporation (AFC) as its 47th member state, according to a press release issued by the multilateral financial institution.
The statement said this declaration, which closely follows the recent accession of the Central African Republic, marks an important step in deepening the AFC’s presence in Central Africa and Africa as a whole.
“Equatorial Guinea, one of Africa’s most resource-rich countries, has outlined a long-term national vision focused on industrialization, economic diversification beyond hydrocarbons, and expansion of world-class transport, logistics, energy and digital infrastructure.
The country’s Horizon 2035 strategy prioritizes investments that can accelerate value addition, drive regional integration, strengthen human capital and strengthen resilience to global market fluctuations. “AFC membership is directly aligned with these priorities.
This will enable governments to leverage AFC’s technical expertise, project development capabilities and robust balance sheet to accelerate the delivery of high-impact infrastructure projects.
“AFC will work with public and private sector stakeholders to develop opportunities across key sectors, including renewable energy, logistics and transportation corridors, and natural resource benefits,” the statement said.
Ivan Molina, Minister of Finance, Planning and Economic Development of the Republic of Equatorial Guinea, commented on his country’s membership as follows:
In advancing the goals of the Horizon 2035 strategy, Equatorial Guinea is prioritizing investments that diversify its economy, strengthen its infrastructure base and create sustainable opportunities for its people.
AFC’s proven track record, deep expertise and commitment to African-led development make it the ideal partner to deliver profitable projects that support long-term growth.
We look forward to working closely with the Corporation to unlock the full potential of our economy. ” Samaira Zubair, President and CEO of African Finance Corporation, added: “We are delighted to welcome Equatorial Guinea as our 47th member state.”
The country has set a bold and forward-looking agenda to diversify its economy, strengthen its resilience and build world-class infrastructure to support its long-term prosperity.
AFC is prepared to work closely with key partners in government and the private sector to develop a unique approach to project development, de-risking and financing to accelerate transformational projects.
Together, we will work on critical infrastructure projects that accelerate sustainable growth in Equatorial Guinea and the entire Central African region. ”
Equatorial Guinea’s accession will also strengthen the AFC’s ability to mobilize global capital in strategic sectors across Central Africa, strengthening the region’s integration into global trade routes and value chains.
The country is currently partnering with the AFC to accelerate sustainable growth through infrastructure development, along with other Central African countries such as Angola, Burundi, Cameroon, Central African Republic, Chad, Democratic Republic of the Congo, Gabon, Rwanda, and Sao Tome and Principe.
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