Cape Verde and USA sign

Saturday, April 20, 2024    08:33 

                                                                                               Flag of Cape Verde   Disclosure

Praia City - Cape Verde and the United States agency Millennium Challenge Corporation (MCC) signed the Compact Financing Concession Agreement this week in Washington, to begin operations in the country, Cape Verde's deputy prime minister told Lusa. green.

This is the "initial agreement for the start of the operation in Cape Verde, in terms of hosting the MCC team itself, but then the strategic documents, the contract itself, will come, but the teams need to be installed - from the United States and Cape Verde -, so that they can prepare the documents that will be signed in contractual terms, where the financial envelopes will be established and the indicative projects and programs will be agreed between the parties", stated Olavo Correia.

The document was signed by Olavo Correia, who is also the Minister of Finance and Business Development of Cape Verde, and the vice-president of the MCC Operations Department, Cameron Alford, in Washington, on the sidelines of the 2024 Spring Meetings of the International Monetary Fund (IMF) and the World Bank.

The Compact Financing Grant Agreement, or 'CDF Agreement', is part of the third MCC Regional Compact to Cape Verde and grants a grant that will support and facilitate the development and start of implementation of the program.
In practice, the agreement aims to make funds available to cover several studies that will lead to the definition of the Compact's activities, according to the Cape Verdean executive.

Furthermore, it is also intended to finance the hiring of the necessary personnel, designated by the national counterpart, for the development and implementation of the program.

"It's a great moment for Cape Verde. It's the third time we are being included (...). Cape Verde is the only country to be awarded the third compact by the United States as an example of democracy, rule of law, of good governance and also a country that is doing extraordinary work in terms of combating poverty and extreme poverty and promoting development and, therefore, for us it is also a source of great pride", highlighted Olavo Correia.

For the minister, this is a project that will be "disruptive" for Cape Verde in terms of creating jobs and opportunities for Cape Verdean young people and women, "so that everyone can live in Cape Verde with dignity and dignity".

Also during the 2024 Spring Meetings of the IMF and the World Bank, in Washington, the Cape Verdean delegation had scheduled meetings with the North American State Department, but also with Japan, with the Arab Bank for the Economic Development of Africa and with the World Bank team, he appointed Lusa as vice-prime minister.

Bilateral relations with Guinea-Bissau, Angola, São Tomé and Príncipe were also part of the priorities for the trip to the capital of the United States, more specifically within the framework of solutions in terms of climate and environmental issues.

At the same time, as president of the Forum of Small Island States, Olava Correia held meetings in this context, in which he discussed "issues that are emergency for these countries".CS