Africa-Press – Cape verde. The entire amount of the amortization of Cape Verde’s debt to Portugal will be fully reinvested in a fund that the archipelago is creating for the climate and energy transition, advanced yesterday, in Mindelo, António Costa.
“It means, for us to have an idea, that until 2025 we are talking about amounts in the order of 12 million euros, and so on, it will happen”, said the Portuguese prime minister.
According to the same, it is a way of converting what is a debt into what becomes Cape Verde’s capacity to invest in energy transition, in the fight against climate change and that this will be done jointly by the two States.
In other words, in addition to the financial contribution, Portugal and its companies expect to be able to be involved, mobilized, as they are “fully available” to intervene in the various areas in which they have expertise.
“Energy efficiency, renewable energy production capacity or its storage through green hydrogen or other renewable gases, this is a new seed that we have sown for a new afforestation program for future cooperation between Cape Verde and Portugal”, he said.
Contributions to the Fund
Ulisses Correia e Silva explained that the Climate and Environmental Fund intends to respond to a need to make Cape Verde “more resilient”, with a “more diversified” economy, in a “very specific” domain that has to do with climate and environmental financing. .
This fund will essentially be dedicated to accelerating the archipelago’s energy transition, as the objective is to reach 2030 with “more than 54 percent (%)” penetration of renewable energies and electric mobility, 100% in 2050, as well as strengthening the energy efficiency.
This is, according to the same source, a perspective and ambition that will have an impact on the balance of payments and on families, and that Cabo Verde has “all the conditions” to place a “very strong” priority on the energy transition.
For the constitution of the Climate and Environmental Fund, Cape Verde’s ambition, according to the Prime Minister, is to have various contributions, whether from bilateral or multilateral partners, from the State Budget and the contribution of Portugal.
For More News And Analysis About Cape verde Follow Africa-Press
