The technical sessions at the III National Economic Conference under the banner “Consolidating Social Equality and Economic Diversification” began in the city of Sipopo with the participation of experts from the United nations System, international, African, regional and subregional financial institutions in order to exchange experiences on the Financial Mechanisms for Development.
In addition to members of the Government, the Chamber of People’s Representatives, the Senate, the Church, representatives from opposition political parties, the private and social sector, these sessions also include participation from experts from the International Monetary Fund (IMF), the World Bank (WB), the African Development bank (AfDB), the Central African States Development Bank (BDEAC) , the Bank of Central African States (BEAC) and the AFREXIMBANK.
The III National Economic Conference, financed by the President of the Republic, Head of State and the Government, H. E. Obiang Nguema Mbasogo, aims to establish the bases for the reorientation of the National Plan for Economic and Social Development programmed for Horizonte 2020.
At this III Conference, the Government has the mission to present the route travelled in the implementation of the Horizonte 2020 Plan (2008-2017), adapt the planning designs for economic and social development to the fiscal framework in the short and medium tern, and integrate the Sustainable Development Goals and planning designs for economic and social development. In addition, an expert from the African Union will present the African Agenda 2063.
During the discussions and deliberations sessions based on the Sustainable Development Goals, sector studies are included which are divided into four blocks: the eradication of poverty, social inclusion and sustainable peace, together with productivity and industrialisation, and environmental sustainability.
The presentation of financing mechanisms for development and the Agenda for Economic Recovery (ARE) are also on the Government’s agenda, and it is hoped that at the end of the discussions proposals for strategies for the development of Equatorial Guinea Post Horizonte 2020 will be proposed for the blocks of “Eradication of poverty” and “Social Inclusion and Sustainable Peace”, “Productivity and Industrialisation ” and “Environmental Sustainability”.
Furthermore, the conference attendees have the mission to examine and debate the challenges of the demographic dividend in relation to the empowerment of young people and women; propose adequate solutions and political orientations that aim to create inclusive economic growth an shared prosperity based on the principles of not leaving anyone behind and reaching those who are lagging first.
The exchange of opinions on how the Government of Equatorial Guinea and all the pertinent interested parties, including technical and financial partners can participate strategically in the successful implementation of a route map for structural transformation aimed at a diversified inclusive economy, are other issues that are on the table at this conference.
The Head of State will give a speech on 29th, to mark the ceremony for the “Launching of the African Union Route Map”on the Demographic Dividend, through Investment in Youth, which has the general aim of the transitory adoption of the new Development Strategy.
Before the closing ceremony planned for 4th May, the Minister for Mines and Hydrocarbons and a representative from the FAO will present to the participants the impact of the national oil sector on national economic development and in Africa, while the Vice-Minister for Finance, the Economy and Planning, valentin Ela Maye, will report on the general alignment of the new Republic of Equatorial Guinea Economic and Social Development Plan for the 2020-2035 period.
Source: Equatorial Guinea Press and Information Office