AfDB strengthen support to Cape Verde

The African Development Bank (AfDB) has announced that it will triple support to Cape Verde. The announcement was made at the International Donors Conference and Investment Forum, on the theme "Creating new partnerships for sustainable development in Cape Verde".

This event took place on 11 and 12 December 2018 in Paris and brought together more than 600 participants, including international bilateral and multilateral development partners from Africa, Europe, America and the Middle East. Where the Government of Cape Verde presented the new National Strategy for Sustainable Development to the international community and the private sector and sought partners for its successful implementation.

Prime Minister Correia e Silva highlighted the country’s priorities to enhance sustainable development, notably: investments on human resources development; implementation of sound economic reforms; infrastructure development; increase resilience in response to climate change; enhance energy security and efficiency.

A commitment reinforced by the recent news of the creation of a Sovereign Fund of 90 million euros to finance large projects of local companies. With the constitution of this fund, the executive of Cape Verde intends to leverage the major projects of Cape Verdean companies, with difficulties of finding financing from the banks.