Luxembourg increases financial aid to Cabo Verde

29 December 2016

Luxembourg will increase its aid to Cabo Verde (Cape Verde) from 49 million euros to 52 million euros over the next five years, in addition to 10 million euros for the Budget Support Group, according to radio and TV company Radiotelevisão Caboverdiana (RTC).

RTC said that those figures were announced Tuesday by the Luxembourg business attache in Cabo Verde, Angèle da Cruz, during a courtesy visit to the Minister of Finance of Cabo Verde, Olavo Correia.

Angèle da Cruz also announced that the Grand Duchy will unlock the second installment of budget support for 2016, amounting to 1 million euros.

“Luxembourg is part of the Budget Support Group to Cabo Verde and last year we signed a new agreement which stipulates support of 10 million euros in the 2016/2020 period,” said Angèle da Cruz, quoted by the Expresso das Ilhas newspaper.

The decision to pay the second installment was announced by the government of Luxembourg after it “positively” assessed the implementation of funding to the archipelago, particularly in the vocational and technical education sector. (macauhub)