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African Development Bank Group (AfDB)

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    • African Development Bank approves €19.6 million in financing to scale up Cabo Verde’s pioneer in wind and battery storage capacity
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Source: African Development Bank Group (AfDB) |

African Development Bank approves €19.6 million in financing to scale up Cabo Verde’s pioneer in wind and battery storage capacity

The project advances Cabo Verde’s goal of generating 50% of its electricity from renewables by 2030 as well as its Nationally Determined Contribution under the Paris Agreement

The Board of Directors of the African Development Bank Group (www.AfDB.org) has approved a €19.6 million financing package to support the Cabeólica Phase II Expansion Project in Cabo Verde. The project is the country’s first renewable energy initiative to integrate wind power generation and battery energy storage systems (BESS) at…

African Development Bank Group (AfDB)
Source: African Development Bank Group (AfDB) |

African Development Bank funds second Tech Park in Mindelo

The campus currently hosts ten companies from four countries and employs 125 young professionals, with 80% of its 25 office spaces occupied

Cabo Verde has inaugurated the Mindelo Technology Park, completing the second campus of the TechPark CV project funded by the African Development Bank (www.AfDB.org). The facility aims to establish the country as a digital hub connecting Africa with global markets.  The ceremony took place on May 6 with representatives from…

African Development Bank Group (AfDB)

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    • Representatives of the African Development Bank, the World Bank, the EU and governments of Cape Verde, Spain, Portugal and Luxembourg at the Cabo Verde Tech Park in Praia with Park staff members
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Source: African Development Bank Group (AfDB) |

Cabo Verde: African Development Bank-supported Tech Park Impresses International Delegation with Rapid Growth and Economic Impact

The Park has quickly established itself as a thriving technology hub, surpassing expectations in less than a year of operation

A high-level donor delegation that included the African Development Bank (www.AfDB.org) has expressed strong admiration for the Cabo Verde Tech Park during a recent visit, highlighting its rapid growth, full occupancy, and role in diversifying the country's economy. The delegation – which also included representatives of the European Union, World…

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    • Cabo Verde's Deputy Prime Minister and Finance Minister Olavo Avelino Garcia Correia and African Development Bank project lead Uyoyo Edosio at the signing of a loan agreement for €14 million to support development of the Cabo Verde Technology Park
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Source: African Development Bank Group (AfDB) |

Cabo Verde: €14 million loan from African Development Bank will strengthen role as regional tech hub

It will offer more than 50 tech startups from across Africa integration grants of at least €5,000 each

The African Development Bank (http://www.AfDB.org) and the government of Cabo Verde have signed a €14 million loan agreement to enhance the Cabo Verde Technology Park by making it more climate resilient and supportive of enterprise development.  The agreement was signed on 19 July in Praia, Cabo Verde. The African Development…

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    • African Development Bank Group President Dr. Akinwumi Adesina (L) and Cabo Verde PM José Ulisses de Pina Correia e Silva inaugurate the modernized port of Maio on September 7
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Source: African Development Bank Group (AfDB) |

Upgraded Maio Port to transform economy, boost trade in Cabo Verde

The modernization of the Ports of Maio and Palmeira cost €36 million, with the African Development Bank providing €17.87 million

African Development Bank (www.AfDB.org) President Dr. Akinwumi A. Adesina on Wednesday inaugurated the upgraded Port of Maio in Cabo Verde, which will help reduce sea travel time to the capital Praia, and boost trade. The modernization of the Ports of Maio and Palmeira cost €36 million, with the African Development…

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    • Cabo Verde PM José Ulisses de Pina Correia e Silva with African Development Bank Group President Dr. Akinwumi Adesina at a July meeting in Abidjan
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Source: African Development Bank Group (AfDB) |

African Development Bank president to inaugurate Port of Maio during visit to Cabo Verde

The President will travel to Cabo Verde at the invitation of Prime Minister, Dr. José Ulisses Correia e Silva

African Development Bank Group (www.AfDB.org) President Dr. Akinwumi Adesina will inaugurate the upgraded Port of Maio on Wednesday during a three-day visit to Cabo Verde. The President will travel to Cabo Verde at the invitation of Prime Minister, Dr. José Ulisses Correia e Silva. In 2018, the African Development Bank…

African Development Bank Group (AfDB)

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    • Cabo Verde PM José Ulisses de Pina Correia e Silva with African Development Bank Group president Dr. Akinwumi Adesina.
    • Cabo Verde PM José Ulisses de Pina Correia e Silva discussed his country's need for fortification against external shocks
    • Dr. Akinwumi Adesina assured Cabo Verde PM of the African Development Bank's support through various development instruments.
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Source: African Development Bank Group (AfDB) |

Cabo Verde: Cabo Verde Prime Minister, African Development Bank Head Affirm Commitment to Strengthen Island Nation’s Economy from Exogenous Shocks

Prime Minister de Pina Correia e Silva expressed his admiration for the way in which the Bank helps African countries to address key development challenges and emerging issues

The African Development Bank Group (www.AfDB.org) President Dr Akinwumi Adesina has met with Cape Verde Prime Minister José Ulisses de Pina Correia e Silva on an official visit to the institution’s headquarters in Abidjan. The two discussed the economic situation of Cabo Verde and emphasized the need to strengthen the…

African Development Bank Group (AfDB)
Source: African Development Bank Group (AfDB) |

Cabo Verde Launches Bank-funded Capital Markets Project

The objectives of the project are aligned with the priorities of the Bank’s Country Strategy for Cabo Verde

The government of Cabo Verde has launched a project to propel the development of vibrant capital markets in the country. The Bank approved a $350,000 grant from its Capital Markets Development Trust Fund in October 2021 to help develop the country’s first-ever Capital Markets Masterplan. The funds will also facilitate…

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    • Cabo Verde set to host hybrid 2021 African Economic Conference on financing development in the Covid-19 era
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Source: African Development Bank Group (AfDB) |

Cabo Verde set to host hybrid 2021 African Economic Conference on financing development in the Covid-19 era

Cabo Verde Deputy Prime Minister and Minister of Finance Olavo Correia said the conference offered “an extraordinarily important moment” to chart the continent’s development course

African heads of state and government together with senior policymakers will share their perspectives on how to reshape Africa’s development financing models at the 2021 African Economic Conference, which takes place on Thursday, 2 December. Cabo Verde Deputy Prime Minister and Minister of Finance Olavo Correia said the conference offered “an…

African Development Bank Group (AfDB)
Source: African Development Bank Group (AfDB) |

Cabo Verde: African Development Bank Group extends $350,000 grant for technical assistance to deepen national capital markets

The grant will be sourced from the Capital Markets Development Trust Fund, a multi-donor fund administered by the African Development Bank

The African Development Bank Group (www.AfDB.org) has approved $350,000 in grant funding for technical assistance to consolidate the country’s capital markets strategy and increase the liquidity of its fixed income markets.    The grant will be sourced from the Capital Markets Development Trust Fund, a multi-donor fund administered by the…