From ASemana

One hundred million euros over the course of five years is the investment perspective of the African Development Bank, which presented its support strategy for Cape Verde in order to lay the Foundation for more inclusive growth.

After the World Bank, it was now the African Development Bank’s turn to sit down at the table with the government to analyze the bank’s strategy for the development of the archipelago – a strategy that, according to Minister of Finances and Planning Cristina Duarte, took into consideration the Cape Verdean government’s Growth and Poverty Reduction Strategic Document. “Both and World Bank and the ADB used this document as a point of departure and, based on our mid-term vision, elaborated their intervention strategy here in the country,” she affirmed.

The African Development Bank will continue to support Cape Verde on two pillars: infrastructure development and institutional support. Cristina Duarte explained that the country’s infrastructures must be managed by more efficient entities, while institutional support will help increase organizational efficiency so that maximum advantage may be taken of what has been built.

In February of this year, during the Africa Innovation Summit, which took place in the city of Praia, the African Development Bank presented the “Africa 50 Fund” in Cape Verde, a fund that foresees the regional integration of various African countries on the middle to long term, and intends to mobilize financing necessary for the construction of major infrastructures.

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