Austria contributes to Cape Verde’s State Budget

16 February 2006

Praia, Cape Verde, 16 Feb – Austria plans to contribute directly to Cape Verde’s State Budget rather than financing individual projects as it has done so far, according to local press reports.

According to the online version of Cape Verde newspaper, A Semana, an Austrian delegation is due to visit the West African archipelago between March 6 and 10 to assess the country’s public finance system and discuss ways of supervising the new financing method with the Ministry of Finance.

The two countries are also due to finalize a new cooperation program for 2006/2008, which will be signed in March along with a memorandum of understanding on budget assistance.

The amount to be granted has not yet been disclosed, but is expected to include at least the 800 million euros Austria has so far provided for food program assistance.

The total, according to the Director-General of the Plan, Manuel Pinheiro, swill be set after the State Budget has been approved in Parliament.

Austria thus joins the Netherlands, the World Bank and the European Union, which have been providing direct budgetary assistance to Cape Verde since 2004. (macauhub)