Portuguese credit line to Cape Verde exclusive to Portuguese-Cape Verdean consortiums

5 March 2010

Praia, Cape Verde, 5 March – The 200 million-euro credit line granted by the Portuguese government to help make up for a housing deficit in cape Verde may only be used by companies in consortiums from both countries, a public official said Wednesday in Praia.

Anastácio Silva, the general director for Planning, Budget and Management of the Cape Verdean Ministry for Decentralisation, Housing and Land Planning who was talking to around 100 Cape Verdean and Portuguese businesspeople from the construction sector, said that the projects had to be government initiatives and carried out by Cape Verdean and Portuguese companies in consortium, which have a maximum of two years to make proposals.

The projects cover all of Cape Verde’s islands via the Habitat-CV programmes (construction of housing in urban areas) and Pró-Habitar programme (housing in rural areas).

The credit line was announced during a visit by Portugal’s prime minister, José Sócrates to Cape Verde in March 2009, which made it possible for the Cape Verdean authorities to draw up the House for All Programme, which plans to build 8,000 homes and rebuild a further 15,000 by 2011.

Headed up by the Cape Verdean Ministry for Decentralisation, Housing and Land Planning the programme is part of a more wide-ranging and ambitious plan to minimise the country’s housing problem, as a 2008 study showed it had a housing deficit of 80,000 accommodation units.

The programme is expected to cost 17 billion Cape Verdean escudos (154 million euros), and the government is expected to contribute 1 billion escudos (9 million euros) each year for the national housing fund, for which each of the 22 municipalities will have to provide 15 percent of their investment budget.

As well as Portugal, China has also announced it will finance construction of around 3,000 houses. (macauhub)