China Development Bank interested in financing projects in Cabo Verde

24 October 2019

The China Development Bank (CDB) is interested in financing projects in Cabo Verde, Cabo Verde’s Minister of Trade and Industry, Alexandre Monteiro, told Macauhub.

The minister, who headed the delegation of Cabo Verde to the 24th edition of the Macau International Fair (MIF 2019), said that the expression of interest arose from contacts with the CDB during his visit to Macau.

“We are working on structural projects, as well as important Chinese investor projects (for Cabo Verde), which are eligible for CDB funding,” Alexandre Monteiro told Macauhub.

The minister pointed in particular to the São Vicente Special Economic Zone (SEZ), a Cape Verdean strategic project, “open to investors from around the world,” with the support of China, which has a lot of experience in developing special economic zones.

The project, he said, could also host investment in “support infrastructures” in addition to the port sector, such as tourism, finance, renewable energy, construction and ship repair.

Cabo Verde needs “technology and knowledge” from expanding countries and offers “location, political and economic stability and proximity to other markets far away from here, and could be a logistical, commercial, and maritime platform,” he told Macauhub. (Macauhub)