ADB grants US$3.5 million to Cabo Verde

17 December 2014

The African Development Bank (ADB) has granted three donations to Cabo Verde (Cape Verde) in the amount of US$3.5 million to promote agriculture, investment and poverty reduction, the Ministry of Finance said Tuesday in Praia.

The ministry added that the three donations would enable the government to provide funds for the general census of agriculture (US$1.19 million) and promotion of economic efficiency and investment (US$1.16 million).

The third project is the Survey of Families’ Income and Expenditure and Drafting of the Poverty Profile, to be carried out as soon as possible by Cabo Verde’s National Statistics Institute (INE) (US$1.16 million).

The agreements, signed by Lamine N’Dongo and Finance Minister Cristina Duarte, is part of a four-day “dialogue mission” that the regional representative of the ADB concluded Tuesday in Cabo Verde.

The mission also aimed to assess ways of assisting people affected by the volcanic eruption on the island of Fogo, and to discuss the progress of implementation of the Country Strategy Paper (CSP 2014-2018) for Cabo Verde as well as to collect statistical data for the African Economic Outlook Report. (macauhub/CV)