The government of Cabo Verde (Cape Verde) plans this year to create a fund to finance water supply and sanitation infrastructure, the Minister of Agriculture and Environment announced on Wednesday in Praia.
Gilberto Silva, who was speaking on the sidelines of a seminar between the Ministry responsible and a delegation of the United States Environmental Protection Agency (EPA), said that the fund, which should be set up within six months, already has 4.5 million euros granted by Luxembourg under the 4th Indicative Cooperation Programme (PIC) signed by the two countries in 2016.
“But of course we need more internal and external resources and therefore we are discussing with our partners their involvement in this option understanding the context we are now facing,” said the minister, who projected that 70 billion escudos (US$680 million) would be needed to finance projects over 20 years.
The delegation of the EPA is in Cabo Verde until Friday for meetings with local authorities connected to the water and sanitation sector and share knowledge related to the management of revolving state funds.
The minister, quoted by Portuguese news agency Lusa, said that Cabo Verde wants to have a revolving fund, based on the experience of implementation of the Water and Sanitation Fund (FASA), created three years ago to manage the resources made available to the archipelago by the United States under the second compact of the Millennium Challenge Account (MCA).
The Millennium Challenge Corporation (MCC), a US institution for official development assistance, has partnered with the EPA to provide technical assistance to national institutions in the establishment of a sector fund for water and sanitation. (macauhub)