The Portuguese government reduced the value of the new Indicative Cooperation Programme (PIC) with Cape Verde for the 2012-2015 period, from 70 million euros to 56 million euros, signed Wednesday in Praia, according to Portuguese news agency Lusa.

Cited by the news agency, the Cape Verdean Foreign affairs Minister, Jorge Borges, said that the drop in funding of 14 million euros would be compensated for with “some innovations,” specifically “greater synergy” between public and private players.

The programme, Borges said would also be based on achieving efficiency and cooperation targets, “specifically national appropriation, aligning Cape Verde’s priorities and funding projections.”

A review and annual programming mechanism was also set up with a view to adjusting the funding programme to the rate of execution and development of the budgetary framework.

The Portuguese Foreign Minister, Paulo Portas, visiting the archipelago, noted that the new PIC would support entrepreneurs a well as having a significant focus on innovation and technology, and on secondary rather than just university education. (macauhub)