World Bank announces support to Cabo Verde in 2017

11 May 2016

The World Bank has about US$25 million available to invest in several projects in Cabo Verde (Cape Verde) in 2017, said Tuesday in Praia Louise Cord, the World Bank director for five countries in West Africa.

Cord, who in addition to Cabo Verde is the face of the World Bank in Senegal, Gambia, Guinea-Bissau and Mauritania, Tuesday had a meeting with the Cape Verdean government to prepare the definition of projects to be funded.

She added, however, that the World Bank intends to support actions focused on macroeconomic stability, reduction of the weight of the state, private sector development and job creation for young people.

The Finance Minister. Olavo Correia, said after the meeting that “the World Bank’s support is very important for the reform of the Cabo Verde economy and the creation of a stable macroeconomic framework.”

“The support of the World Bank in terms of technical and financial assistance is very important for Cabo Verde to be a safe country that is viable from a political, social and economic point of view and attractive to domestic and foreign investments,” said Correia.

The minister also said that the current government of the archipelago will support the private sector and seek to improve the business climate by creating a reliable, safe and efficient legal system. (macauhub/CV)