African Development Bank support development in Cabo Verde

29 April 2014

The African Development Bank (ADB) has approved the Strategy document for Cabo Verde (Cape Verde) for 2014-2018, the archipelago’s Ministry for Finance and Planning said in a statement issued in Praia.

According to the statement cited by weekly Cape Verdean newspaper A Semana, “the ADB, which is a privileged partner of Cabo Verde, will support the government’s efforts to establish the basis for growth for everyone based on the green economy.”

The strategy document is based on two areas: strengthening and diversification of infrastructure for sustainable development and boosting economic governance in the public and private sector.

These two areas, the government said, are in line with the Strategic Document for Growth and Reducing Poverty (DECRP III), the ADB’s Ten-Year Strategy for Regional Integration for West Africa and the ADB’s Development Policies for the private sector.

As well as multi-sector budget support, the ADB is expected to fund an indicative programme focused on projects for the transport, fishing and energy sectors and this will include the ports of Maio and São Nicolau, the Mindelo fishing dock and boosting the power production capacity for the island of Porto Inglês. (macauhub/CV)