The African Development Bank (AfDB) has approved a €73.27 million loan to Equatorial Guinea for the first phase of its Human Capital Development Project (PARCH 1).
Running from 2025 to 2030, the initiative will strengthen vocational training and expand job opportunities, especially for young people and women.
Two modern polytechnic institutes will be set up in Bioko Sur and Welé-Nzas, offering market-driven skills in agriculture, fisheries, tourism, public works, and digital technology.
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According to AfDB, PARCH 1 is expected to generate 4,500 jobs, support 500 youth- and women-led businesses, and provide training and job placements for nearly 2,000 people.
With youth unemployment at 23.5% and women hardest hit, the project will address the skills gap by aligning training with private sector needs, fostering entrepreneurship, and improving economic inclusion.
AfDB says the investment will not only create jobs but also strengthen social stability in the country.
