EIB donates 5.1 million euros to Cabo Verde for energy sector

28 November 2014

The European Investment Bank (EIB) has donated 5.1 million euros to Cabo Verde (Cape Verde), and the respective donation document was signed by Finance Minister Cristina Duarte, the ministry said in a statement in Praia.

The donation is intended to enhance the efficiency and effectiveness of the energy sector in the country, specifically “improving demand management and reducing energy losses due to technical and business issues.”

The official statement said that the funding would set up a laboratory for power companies Electra Sul and Electra Norte, introduce reforms and boost the grid as well as purchase and install new meters.

The projects covered by the funding also include power limiters for low voltage customers and development of network management systems on Santiago, Sao Vicente and Sal. (macauhub/CV)