The Netherlands to support most of the business projects presented by Cape Verde

26 February 2007

Praia, Cape Verde, 26 Feb – The Netherlands are expected to approve 15 of the 25 business projects presented by Cape Verdean economic agents as part of the Cooperation Program for Emerging Markets (PSOM), a Netherlands official said in Praia Friday.

Michel Ridder, project coordinator for the Netherlands Foreign Trade and Cooperation Agency, which is responsible for managing PSOM funds, said that 25 projects had been received, through the Sotavento, Barlavento and Bilateral Holland-Cape Verde chambers of commerce.

“Of those projects, 15 have the conditions to be approved, as they satisfactorily meet the majority of the required criteria,” said Michel Ridder.

The PSOM selects projects submitted to it according to pre-set criteria, thus guaranteeing 60 percent of the funds required for the projects, totaling up to 825 million euros. (macauhub)