Cape Verde: Portugal grants budgetary aid of 1.5 million euros for 2009

12 December 2008

Praia, Cape Verde, 12 Dec – Portugal and Cape Verde Friday in Praia signed a “memorandum of understanding for budgetary aid” via which Portugal will provide budgetary aid of 1.5 million euros to the archipelago.

Portugal is one of the countries that provides direct budgetary aid to Cape Verde and between 2008 and 2011 will provide an amount of 7 million euros.

Currently seven countries and institutions directly sponsor the Cape Verdean state budget.

Portugal also supports Cape Verde in projects linked to good governance, participation and democracy, sustainable development and fighting poverty.

As well as Portugal, the following also directly support Cape Verde’s budget: Austria, Spain, the Netherlands, the European Union, the World Bank and the African Development Bank.

The Cape Verdean state budget for 2009 outlines expenditure of the equivalent of 453 million euros. (macauhub)