Partnership between Government and North American foundation supports SMEs with 10 million dollars

3
Partnership between Government and North American foundation supports SMEs with 10 million dollars
Partnership between Government and North American foundation supports SMEs with 10 million dollars

Africa-Press – Cape verde. The Government and the United States African Development Foundation (USADF) signed this Thursday morning a memorandum of understanding that establishes a strategic partnership and will make available, over five years, 10 million dollars to promote development of SMEs in the country

The Government and the United States African Development Foundation (USADF) signed this Thursday morning a memorandum of understanding that establishes a strategic partnership and will make available, over five years, 10 million dollars to promote the development of small and medium-sized enterprises (SMEs) in the country.

According to the Deputy Prime Minister and Minister of Finance, Olavo Correia, the financing will support Small and Medium-sized Companies, especially those linked to agriculture, renewable energy, blue economy, youth employment, women’s training and entrepreneurship.

“This partnership with the USADF is very important, as it will allow the USADF to place around one million US dollars per year. In five years there are five million. At the same time, Cape Verde will also put in the same amount: one million per year, making two million. There will be ten million US dollars to support young entrepreneurs, to support women entrepreneurs. In fact, I said today in my speech that we have two wings to boost our economy: the first is our youth and the second is women. Everything we can do so that young people and women can have opportunities in the energy transition, in the blue economy, in the digital economy, in creative industries, in smart and sustainable agriculture, we will be making a great contribution to our country, to Africa and for the world”, he stated.

For the governor, human dignity can only be promoted by creating conditions for employment.

“And there is no way for us to promote the dignity of the human person without them having access to employment or income, especially young people and African women. We have a continent that is one of the future, despite some negative images that permeate the world press (…), the African continent has the largest sources of renewable energy in the world, but, even more importantly, when we talk about the world of the future, in 2050, Africa will have around 25% of the world’s population and the youngest population in the world is the African population, this is the greatest strength of the African continent, the young population. And the world needs youth for the job market”, she stressed.

The President and CEO of the African Development Foundation of the United States, Travis Adkins, on the occasion stated that this memorandum will contribute to the well-being and improve the interest of the people of Cape Verde especially in opportunities for social and economic development.

For More News And Analysis About Cape verde Follow Africa-Press

LEAVE A REPLY

Please enter your comment!
Please enter your name here