African Development Bank (www. AfDB. org Group President Dr. Akinwumi Adesina will inaugurate the modernized port of Maio, a three-day stopover in Cape Verde, on Wednesday.
The President will travel to Cape Verde at the invitation of the Prime Minister, Dr. José Ulisses Correia e Silva.
In 2018, the African Development Bank granted a $26 million line to modernize the ports of Maio and Palmeira. The European Union co-financed the task with a grant of €10 million.
The expansion of shipping is imperative for this West African country, given its geographical location. Cape Verde is an archipelago in the middle of the Atlantic Ocean.
The government of Cape Verde is running to create a reliable shipping network for economic links between the islands, reduce shipping and garage costs and promote inclusive growth. Tourism, which accounts for 25 percent of GDP, 23 percent of formal employment and 55 percent consistent with one percent of the country’s exports, is essential to its economy.
During his trip to Praia, the national capital, Adesina will meet with Prime Minister Correia e Silva and Finance Minister and Deputy Olavo Correia to discuss the Bank’s strategic priorities, commitment and long-term partnership opportunities.
Adesina will also meet with key partners from the Budget Support Group (Portugal, Spain, the European Union, Luxembourg and the World Bank) to discuss tactics to help Cape Verde’s efforts in its socio-economic infrastructure. He will also meet with representatives of professional associations. en improving the business environment.
In July, Prime Minister Correia e Silva visited the Abidjan headquarters of the African Development Bank Group, where he discussed the economic scenario in Cape Verde with President Adesina. He called on his country to allow it to cope with exogenous shocks such as those caused by the war in Ukraine and the Covid-19 epidemic.
The African Development Bank and Cape Verde have been operating together since 1977. Since then, the Bank has invested more than €619 million in 69 projects in the country.
Click here (https://bit. ly/3CYFyK9) to see highlights of the Carbo Verde Prime Minister’s AfDB headquarters
Watch the video (https://bit. ly/3x0vj46) of the Bank’s assignment for the Cabeolica wind farm in Cape Verde
Watch the Bank’s video (https://bit. ly/3CWVIUi) for the Praia Airport Expansion and Modernization Project (Cape Verde)
Contact: Emeka Anuforo Department of Communication and External Relations media@afdb. org
About the African Development Bank Group: The African Development Bank Group is the leading progressive financial establishment in Africa. It contains 3 separate entities: the African Development Bank (AfDB), the African Development Fund (ADF) and the Nigeria Trust Fund (NTF). Present in 41 African countries with an external workplace in Japan, the Bank contributes to the economic and social progress of its 54 regional member states. For more information: www. AfDB. org
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