Cape Verde: African Development Bank announces funding for the next three years

21 January 2009

Praia, Cape Verde, 21 Jan – The African Development Bank (ADB) plans to provide Cape Verde with US$287 million in funding over the next three years, to be invested in building infrastructures in the country, Cape Verde’s ambassador to Portugal, Arnaldo Andrade said.

The announcement was Wednesday during a meeting organised by the Cape Verdean government on the island of Boavista and which brought together representatives of diplomatic missions and international organisation in the country.

“The ADB’s announcement of a US$287 million programme for the next three years means significant support for Cape Verde in terms of the options made in its development strategy and infrastructure options. This is a good sign because it gives all the partners confidence to continue focusing on the country,” the ambassador said.

The meeting of the Cape Verde government with its partners was also an opportunity to meet with bilateral and multilateral partnerships a year after Cape Verde transitioned to become a medium income nation.

The resident coordinator of the United Nations System in Cape Verde, Petra Lantz, gave assurances that the UN was ready to support the country in its efforts to face development challenges over the next few years.

Lantz noted that Cape Verde had proved its “exceptional capacity” on the road to reaching its Millennium Development Goals by 2015, and that the aims of those national policies were adjusted for beyond those specific targets. (macauhub)