Cape Verde contracts loan to be used for Technology Park

30 December 2013

The government of Cape Verde has contracted a 31.59 million euro loan from the African Development Bank, which will be used solely to develop the Technology Park, indicates a decree dated 27 December published in the official gazette.

The loan must be reimbursed in 30 half-yearly instalments over 15 years, with a five year grace period. The decree also states that the Technology Park will contribute toward the country’s sustainable development by supporting the information and communication technologies industry.

The project aims to enhance business competitiveness while encouraging innovators and entrepreneurs to do business in the country, indicates the text cited by the Cape Verdean newspaper A Semana.

This new loan will be used to build data centres, for companies and training, and also to draw up an activities plan. (macauhub)