Cape Verde creates agency to kick start investment in country

14 May 2007

Cidade da Praia, Cape Verde, 14 May – The Cape Verde government is to create an inter-ministerial Resources Mobilization Unit aimed to seek rapid new investment in the archipelago, officials have said.

The decision to create the new body was announced Friday in Praia by Sara Lopes, assistant minister to the prime minister and minister of labor, who said the current framework of investment support from organizations like the UN and African Development Bank was insufficient, as “project length is of long duration.”

The current delay of between five and ten years between initial talks for support to build a highway and its final construction “does not serve” Cape Verde’s present interest, the minister added.

The new Resources Mobilization Unit aims to “discover where there are ways of finding quicker investment that will allow us to mobilize funds in the medium term,” said Lopes. (macauhub)