World Bank increases aid to Cabo Verde to US$90 million

26 April 2017

The World Bank has increased from the amount of aid to be granted to Cabo Verde (Cape Verde) over the next three years from US$42 million to US$90 million, announced Finance Minister Olavo Correia, who travelled to Washington to attend meetings of the Sprig meetings of the World Bank and the International Monetary Fund (IMF).


Correia was given news of the extended funding at a meeting with the new director of the World Bank group of which Cabo Verde is a part, Seydou Bonda, according to the Cape Verdean press.


The Cape Verdean Finance Minister also met with the regional director of the International Finance Corporation, Vera Songwe, newly appointed as the executive secretary of the UN Economic Commission for Africa, to discuss the IFC’s continued support to the Cape Verdean private sector


Correia also met with other partners of Cabo Verde, including the OPEC Fund for International Development, with which he analysed partial financing of the cruise ship terminal on the island of São Vicente. (macauhub)