Cape Verde: Japan finances energy project on Santiago island

20 March 2008

Praia, Cape Verde, 20 March – Japan plans to loan some US$44.47 million to fund the project to increase the capacity for production, transport and distribution of power on the Cape Verdean island of Santiago, according to Cape Verdean news agency Inforpress.

According to a statement from the Ministry for Foreign Affairs Cooperation and Community, cited by Inforpress, as well as the Japanese funding via the JBIC (Japanese Bank for International Cooperation), the project will also receive funds from the African Development Bank and the Cape Verdean Government.

The project is expected to include the expansion of the Palmarejo power plant, the refurbishment and extension of distribution networks, construction of a high voltage line to link the plant to the one at Calheta de São Miguel as well as inter-connection of lines between the island’s avrious municipal areas.

The agreement was signed Tuesday by the Minister for Finance and public Administration, Cristina Duarte and the Japanese ambassador to Cape Verde, Takashi Saito.

The Japanese government has provided funding for Cape Verde’s development, which has been channelled to the sectors of agriculture, fishing, telecommunications, sport, water supply and management, health, staff training and infrastructure. (macauhub)