Cape Verde: Portugal provides credit line for renewable energy

16 March 2009

Mindelo, Cape Verde, 16 March – The governments of Cape Verde and Portugal Saturday in Mindelo on the Cape Verdean island of Sao Vicente signed a memorandum of understanding to open a credit line worth 100 million euros to carry out projects in the renewable energy sector in Cape Verde.

The memorandum notes that the credit line is to “support funding projects for renewable energies (solar and wind energy) in Cape Verde up to a total of 100 million euros.”

Portugal will also provide funding for refurbishment and extension of Sao Pedro airport, on the island of Sao Vicente, as well as construction of a new airport.

This project is estimated to cost 22.3 million euros, 19 million of which will be provided via a loan from Portuguese state bank Caixa Geral de Depositos.

On the Portuguese side the secretary of state for Public Works, Paulo Campos, is also due to sign an agreement for construction of a road between Baia and Calhau, also on the island of Sao Vicente.

The amount earmarked for spending on this road is part of a funding package from the Portuguese state totalling 40 million euros. (macauhub)