Equatorial Guinea’s response to the infrastructure funding crisis – a new international airport
Equatorial Guinea is in an enviable position in comparison to much of the rest of Africa. The discovery of ample petroleum reserves has altered the economic and political status of the country. Its gross domestic product (GDP) per capita ranks 64th in the world according to the CIA World Fact Book and its GDP growth rate during this decade has been the highest in the world at over 60%.
Despite poor living conditions for many of the population in what is still regarded as a country lacking basic human rights, the oil wealth has at least obviated the need for the government to seek outside help to fund new airport infrastructure, as the commissioning and recent opening of the President Obiang Nguema International Airport at Mongomeyen proved. The USD375 million project was funded entirely by the government.
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