Cape Verde: Government and EU sign funding agreement to fight poverty

29 May 2009

Praia, Cape Verde, 29 May – The government of Cape Verde and the European Union (EU) Thursday in Praia signed a Financing Convention for the II Strategy for Growth and Reduction of Poverty, in the amount of 16 million euros.

The programme, said Cape Verdean Finance Minister, Cristina Duarte, had already received EU funding as part of the preparation cycle for the 9th European Development Fund (EDF), in the period between 2002 and 2007, in the amount of 14.2 million euros, of which 13.6 million was in budgetary aid.

This new funding, Duarte added, was part of the 10th EDF (2008/2013) and is half of the amount programmed, which totals 32 million euros, of which 30 million are for budgetary aid and 2 million in technical institutional assistance.

The ceremony also marked the end of almost two weeks of work between the Cape Verdean government and representatives of the countries and institutions that are members of the Support Group for Budgetary Aid, which is currently made up of the European Commission, the World Bank, the African Development Bank (ADB), Portugal, Austria, the Netherlands and Spain. (macauhub)