Portugal opens 30 million-euro credit line for Cabo Verde

15 January 2014

The Portuguese government has approved the opening by state bank Caixa Geral Depósitos (CGD) of a 30 million-euro credit line for Cabo Verde (Cape Verde), under the terms of a ruling from the secretaries of state for Finance and Foreign Affairs.

According to the ruling, the credit line has a maturity of 35 years with a 15 year grace period, and Portugal will subsidise the loan’s interest rate, which has been set at 1.37 percent a year.

The ruling from the two secretaries of state said that this was an aid loan to fund acquisition of Portuguese goods and services.

The funding is part of the policy of cooperation for development that prioritises countries with which Portugal has important historical links, such as Cabo Verde. (macauhub)