World Bank provides credit to support companies in Cape Verde

20 January 2012

Praia, Cape Verde, 20 Jan – The World Bank plans to loan Cape Verde US$1 million for its Growth and Competitiveness Fund (FCC), which is focused on supporting Cape Verdean companies, said the FCC’s representative at the Sotavento Chamber of Commerce, Industry and Services (CCISS) Thursday.

Mónica Vicente, said that this loan taken on from the World Bank was in its second edition, and in the first phase funding had totalled US$1.3 million.

“The FCC is part of the Project to Support Micro, Small and Medium-sized Companies and Electronic Governance, funded by the government by loans taken on from the World Bank, and is managed by the country’s Chambers of Commerce. Between 2005 and 2009 the Fund benefited over 100 companies and increased the competitiveness of companies,” she said.

According to a document from the CCIS, this Fund will provide assistance in technical specialities, in the areas of on-the-job training, information and other activities involved in the process of technology transfer. (macauhub)