World Bank supports tourism in Cabo Verde with loan of US$5 million

13 May 2016

The World Bank approved a loan of US$5 million to Cabo Verde (Cape Verde) to develop and increase the competitiveness of the tourism sector in the archipelago, the World Bank said in a statement issued in Washington.

The statement said that the tourism sector in Cabo Verde has potential to be the main driver of economic growth, whilst offering many opportunities for diversification and connection to the private sector.

Louise Cord, director of the World Bank for Cabo Verde, Senegal, Gambia, Guinea-Bissau and Mauritania, is quoted in the statement as saying, “the sector is one of the priorities of the strategy that the World Bank is developing with the newly elected officials” in Cabo Verde.

The project, to be carried out over five years, aims to help the government and the private sector to benefit from economic opportunities generated with the growth of tourism in the country, including types of accommodation and attractions available to visitors. (macauhub/CV)