The Government of Equatorial Guinea has launched a strategic program aimed at strengthening human capital and promoting economic and social inclusion, with an investment of €58.6 million. The initiative, called PARCH I (Project to Strengthen Human Capital in Support of Economic and Social Inclusion), seeks to provide training, employment, and entrepreneurial opportunities for young people and women across the country.
The financing agreement was signed in Bata by Deputy Minister of Finance and Budget, Pedro Abeso Obiang Eyang, and African Development Bank (AfDB) Director for Central Africa, Léandre Bassolé, marking the first investment by the AfDB in Equatorial Guinea’s human development sectors in ten years.
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PARCH I will provide training for nearly 2,000 young people, 45% of whom will be women, create 4,500 jobs, and support the establishment of 500 micro-enterprises led by young entrepreneurs and women. In addition, two internationally standard polytechnic institutes will be constructed in Mongomo and Luba, designed with climate sustainability and modern infrastructure in mind. The project also includes internship programs, business incubators, and entrepreneurship funds, linking training to tangible employment and economic opportunities.
Deputy Minister Pedro Abeso Obiang Eyang highlighted the strategic importance of the project: “With PARCH I, we are not only funding training; we are investing in skills, innovation, and the capacity of our youth to build a strong and sustainable future.” Léandre Bassolé emphasized the need to align infrastructure and human talent: “The project bridges the gap between existing infrastructure and the skills required to manage it. Equatorial Guinea’s youth are becoming the primary driver of sustainable development.”
The total project cost is €73.27 million, including €14.65 million contributed by the Government of Equatorial Guinea. The initiative reinforces national objectives for social inclusion, economic diversification, and youth employment, with a particular focus on women’s participation.
As of August 30, 2025, the AfDB portfolio in Equatorial Guinea comprises five operations and six instruments, with commitments totaling approximately €85.6 million, primarily directed to agriculture (65%), governance (34%), information and communication technologies (0.69%), and energy (0.55%). With PARCH I, Equatorial Guinea strengthens its human capital and lays the foundation for a more inclusive and competitive economy, aligned with national and regional sustainable development priorities.
