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Steadfast presidential leadership and revenues from the discovery of oil are making the dream of modernization a possibility in Equatorial Guinea. In 1968, after 190 years of Spanish Colonial Rule, Equatorial Guinea gained its independence. Under its first post-colonial government, almost all investment in infrastructure was abandoned. Until 1996 when oil was discovered, Equatorial Guinea was represented on almost every list of the world’s poorest countries with staggering statistics of crushing poverty. Similar to so many of its African post-colonial neighbors, Equatorial Guinea needed to build its government, social systems and infrastructure from the ground up.
With the discovery of oil and natural gas, as well as a focus on specialized farming, Equatorial Guinea is diversifying its economy and securely financing its infrastructure projects. Almost every major project has foreign partners that are sharing the costs and giving their expertise to the Equatorial Guineans. The emphasis on infrastructural development not only allows the country to diversify its economy, but will also make Equatorial Guinea an important regional economic hub
Along with the necessary social and government programs, the bricks and mortar of building a country are happening at a rapid pace. Construction projects are underway in each of the country’s 30 counties including: new town halls to provide expanded government service, hospitals and clinics, new schools, public housing, water and sewer lines, electrical plants with underground wires, and sports stadiums.
The Government is currently implementing a comprehensive program of highway and municipal roadway construction to provide the foundation of this new infrastructure. Already one-third complete, the project will make Equatorial Guinea one of the few nations in all of Africa where every town and city throughout the country will be connected with smooth, paved roads. This transportation backbone will facilitate the movement of people and trade, allowing further economic growth. |