The Government of Cape Verde announced on Tuesday, 2 December, that the African Development Bank (AfDB) has approved budget support of €17.7 million for the country under the Electronic Governance and Public Finance Management Reform Programme (E-PFMRP).
According to a report by Lusa, the funds will be allocated to the second phase of the E-PFMRP, which aims to “improve the delivery of public services, enhance the competitiveness of the economy and increase efficiency in the management of public resources”.
In an official statement published on its website, the Government said that, ultimately, the programme is expected to “contribute to Cape Verde’s economic growth”.
The programme forms part of a broader set of actions designed to “strengthen transparency and stimulate the development of the private sector as the main driver of economic growth and job creation, while promoting inter-island connectivity”, the statement reads.
Outside the scope of direct State Budget support, the AfDB also backs “Cape Verde’s digital transformation”, through “financing for the Archipelago Digital Technology Park, totalling €45.5 million”, as well as the Morabeza project, “to be implemented between 2024 and 2027, with funding of €24 million”, aimed at supporting the launch of technology-based companies.
The partnership between Cape Verde and the AfDB is “deeply strategic”, the Government concluded.
