Safeguarding Access to Fiscal and Educational Resources Project

The development objectives of the Safeguarding Access to Fiscal and Educational Resources Project for Sao Tome and Principe are to support continued access to education and contribute to addressing sources of fiscal pressure emanating from the energy sector in Sao Tome and Principe. The project comprises of three components. The first component, emergency financing to ensure continued access to quality education will finance targeted recurrent operating costs, including salaries of personnel in the education sector. It consists of following sub-components: (i) payment of salaries for personnel in the education sector; and (ii) auxiliary expenses for schools. The second component, technical assistance to support the Recipient’s fiscal stabilization program will support the government’s commitment to improve the energy sector’s sustainability and limit its negative fiscal impact. The third component, project management will finance the operating costs of the Project Implementation Unit (PIU) under the Project Administration and Fiduciary Agency (Agência Fiduciária de Administração de Projectos - AFAP), including monitoring and evaluation, project audits, review of teacher payroll, management of environmental and social (E and S) risks, financial management and procurement functions and other operating costs required for the implementation of the project.