The World Bank has approved an additional US$27 million loan to finance Cabo Verde’s (Cape Verde’s) transport reform project, which began in 2013, according to information provided by the archipelago’s government.
The aim of the project is, according to the Cape Verdean government, to improve the management of the national road network and to improve the efficiency of public enterprises in the transport sector.
The additional credit includes about US$17 million for repair and maintenance of roads, including about US$3.0 million for emergency works.
The institutional strengthening and management of the project will be provided with US$1 million, road safety with another US$1 million and the strategy for inter-island transport will receive US$3 million.
The World Bank recently approved a support programme for Cabo Verde amounting to 82 million euros, to be implemented over the next three years, which will remain suspended until the archipelago’s government submits a plan to restructure Cabo Verde’s flagship airline, TACV. (macauhub)