Japanese funding of Cape Verdean projects expected to total US$224 million

11 June 2013

The funding granted by Japan for water supply and energy projects in Cape Verde is expected to total US$224 million, which is substantially more than the US$88.4 million previously outlined, said Cape Verde’s Prime Minister.

Summarising Cape Verde’s participation in the 5th Japan/Africa Conference (TICAD-V), held last week in Yokohama, José Maria Neves also said that his Japanese counterpart Shinzo Abe had confirmed that Japan would provide funding of US$160 million for a water desalination, storage and transport project on the island of Santiago, where over 56 percent of the population lives.

Cited by Pan-African news agency Panapress, the Prime Minister said that planning for the project would be concluded very soon, which would mean that the funding would be paid out by the end of the year.

According to the Cape Verdean Prime Minister Japan also plans to fund another project, worth some US$64 million, to ensure better energy distribution across six islands (Santiago, Sao Vicente, Sal, Fogo, Maio and Santo Antao).

The project will be finalised by the end of the year, and therefore fund can be paid out at the beginning of 2014, he said.

Neves also said that during his time in Japan he had met with a Japanese company that plans to invest in construction of a “logistics base” for the Japanese fishing fleet in the Atlantic, in Mindelo, on the island of Sao Vicente. (macauhub)