European Union funds Cape Verde’s state budget

30 May 2013

The European Union plans to provide budgetary aid to Cape Verde of 31 million euros, 4 million of which will be for institutional support and technical assistance, under the terms of an agreement signed Tuesday in the city of Praia.

The agreement, which is part of the Contract for Good Governance and Development, will be in place for three years and was signed by the EU ambassador to Cape Verde, José Manuel Pinto and by Cape Verde’s Finance Minister, Cristina Duarte.

The ambassador said that the funding is intended to support economic growth, reduce poverty and develop the special partnership with Cape Verde, and mentioned that water supply and sanitation, health, security and technical and normative convergence between the European Union and Cape Verde.

Recognising that this kind of support is a “great effort” by European taxpayers to help Cape Verde, at a time when Europe is going through a serious crisis, Minister Cristina Duarte called for continued support for the archipelago, particularly in terms of turning a profit on facilities that have been built.

The funding now provided by the European Union to Cape Verde is part of a package of 70 million euros for the 2008-2013 cooperation programme as part of the 10th European Development Fund. (macauhub)