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São Tomé and Príncipe joined the African Development Bank as a regional member country (RMC) in 1977. The country’s first lending operations began in 1978 and the Bank has since approved a total of 64 loans and grants amounting to $340.93 million across sectors such as agriculture, energy, finance, water and sanitation, transport, telecommunications, and social, among others. São Tomé and Príncipe is an African Development Fund-eligible country and therefore has access to concessional financing.