Cape Verde intends to attract public and private investments of 5,000 million euros to meet the agenda of the sustainable development program by 2030 and will call on the country’s international partners for support.
“Cape Verde deserves and is receiving a lot of sympathy from the international community. I am convinced that we will be able to mobilize the essential funding we need to make Cape Verde a relevant country for the African continent, a relevant country for the world, a better country for each of its fellow citizens in the country, but also spread to various corners of the world,” said the Deputy Prime Minister, Olavo Correia.
The Prime Minister, who is also Minister of Finance and Business Development, presented in Praia, the International Partners Conference PEDS (Strategic Plan for Sustainable Development) II, 2022/2026 – first cycle of the global program “Ambition 2030” – which will take place next April 27 and 28, in the island of Boa Vista, under the theme “Driving change and accelerating development.
“PEDS II is going to be financed in a logic not only public, but particularly in a logic of public-private partnership. Therefore, it is not the State that will finance PEDS, but we already have until 2030 values around 5,000 million Euros of investments that should be channeled to Cape Verde. Public investments, but also private ones, and also within the framework of public-private partnerships”, explained Olavo Correia, on the sidelines of the presentation, which has already involved representatives of the international community.
PEDS II was presented by the Cape Verdean government in 2022, designed to consolidate the sustainable development strategy and accelerate structural transformations that will make the country more resilient and less vulnerable to external shocks, while providing for an average annual economic growth of no less than 5%, the eradication of extreme poverty by 2026, the reduction of absolute poverty, and the reduction of regional asymmetries, strengthening territorial cohesion and social cohesion.
The plan aims to meet Cape Verde’s strategic objectives, namely to ensure economic recovery, fiscal consolidation and sustainable growth, promote diversification and make Cape Verde a circulation economy located in the mid-Atlantic, among others.