Cabo Verde to have permanent representation of the World Bank

14 February 2019

The installation in Cabo Verde (Cape Verde) of a permanent representation of the World Bank is an “example of confidence” in the country, its institutions and its future, the deputy prime minister and finance minister said on Wednesday in Praia.

Olavo Correia was speaking after signing the official document to open the office along with the World Bank’s director of operations for Cabo Verde, Louise Cord, according to the Inforpress news agency.

The deputy prime minister, who thanked the World Bank for its focus on the country, recalled that the archipelago has a portfolio of projects financed by the institution worth over US$100 million.

Cord, who is also director of the World Bank for Senegal, Gambia, Guinea Bissau and Mauritania, said that it was “a historic moment” for the World Bank in Cabo Verde to sign the agreement with a view to establishing an office the archipelago, which is a reflection of “the policy of dialogue” with the country.

The operations director signed another document at the same time, whereby the World Bank will provide US$10 million in funding for Cabo Verde to implement a set of social and productive programmes for the most vulnerable sections of the archipelago’s population. (macauhub)