The programme aims to improve the provision of public services, increase the competitiveness of the economy and efficiency in the management of public resources.
The concessional loan for 25 years (eight of lack) for budget support, in 2024, had the green light of the bank’s monitoring team on January 29 and should have a follow-up with a second tranche, of equal value, in 2025, reads the documentation of the AfDB, consulted by Lusa.
The program aims to “create a more favorable environment for the private sector”, as well as to improve “the mobilization of national revenues” and make the public procurement system “more efficient”.
The portfolio of the AfDB in Cape Verde includes five operations (data from October 31, 2023) totalling 72.8 million euros distributed in the thematic areas of Food Africa (13.7%), Integrate Africa (39%), Industrializing Africa (19.1%) and improving the quality of life of Africans (28.2%).
The percentage of projects in a satisfactory situation increased from 50% at the end of January 2023 to 67% in October of the same year, while only 11% required an “observation carefully”.
The percentage of projects with warning signs fell from 38% in January 2023 to 22% in October of this year, “well below the regional average of 35%”, notes the AfDB.
The average portfolio age is two years with a cumulative disbursement rate of 49%.
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