12 Mars 2023
ABIDJAN, Côte d’Ivoire, March 12 (Infosplusgabon) – Eight directors of the African Development Bank Group will begin on Monday, March 13, 2023, a consultancy mission in Cabo Verde, a country supported by the Bank in the face of exogenous shocks linked to Russia’s invasion of Ukraine and the Covid-19 pandemic. Will take part in this mission: Désiré Guedon (Gabon, Benin, Burkina Faso, Cabo Verde, Comoros, Mali, Niger, Senegal), Ahmed Zayed, (Egypt, Djibouti), Malika Dhif (Morocco, Tunisia, Togo), Stéphane Mousset ( France, Belgium, Spain), Brahim Bouzeboudjen (Algeria, Guinea-Bissau, Madagascar), Xenia Nomfundo Ngwenya (South Africa, Eswatini, Lesotho), Takaki Nomoto (Japan, Saudi Arabia, Argentina, Austria, Brazil). They will be accompanied by Advisors Adama Rouamba, Mamadou Diop, Fanaye Alemayeu, the Bank’s Deputy Managing Director for West Africa Joseph Ribeiro, Principal Economist Joel Daniel Muzima and Country Program Officer Jose Antonio Da Graca. Pinto, reports a press release from the banking institution.
The administrators will have several exchanges with the highest authorities of the country, including Prime Minister José Ulisses Correia e Silva, Deputy Prime Minister Olavo Avelino Garcia Correia, also Minister of Finance, Business Promotion, Digital Economy and Governor of the Bank for Cabo Verde and Adalgisa Barbosa Vaz, Secretary of State for Business Development and Alternate Governor of the Bank for Cabo Verde. Meetings are also scheduled with the sectoral ministers, in particular those of Industry, Trade and Energy, Public Administration, Agriculture and the Environment, Infrastructure as well as with the Secretaries of State in charge of the Digital Economy and Finance.
Directors will also meet with development partners, representatives of the private sector and Cabo Verdean civil society organizations before visiting several Bank-financed projects and infrastructure. Also on their agenda are the Cabéolica wind farm, the Casa do Cidadão, the one-stop shop for administrative matters, business licenses and registrations as well as the water mobilization project for agriculture. The field trips will also take the administrators to the volcanic island of Fogo with high agro-industrial potential where they will visit projects for agricultural farms, fruit production and the SuiFogo factory which produces cheese and sausages.
The African Development Bank has excellent relations with Cabo Verde. It finances numerous structuring projects there, including very recently the modernized port of Maio, inaugurated in September 2022 by the President of the Bank Group Akinwumi Adesina, and the Technology Park, the inauguration of which is scheduled for next April.
As Africa’s leading development finance institution, the African Development Bank is uniquely positioned to continue providing long-term financing and advisory services to Cabo Verde to accelerate the diversification of its economy. and reduce its vulnerability to exogenous shocks.
The Bank is now one of the country’s privileged development partners. Since 1977, date of the beginning of its activities in Cabo Verde, it has invested approximately 609.8 million US dollars in various sectors including, in particular, transport, energy, agriculture, water and sanitation, telecommunications and governance. The Bank notably financed the construction, extension and modernization of Praia airport, which increased the number of daily travelers from 400 to 1,000, the construction of transmission lines and electricity distribution networks, digital development in order to to make the country a technological and development hub for agricultural value chains, etc.
As of January 31, 2023, the Bank Group’s active portfolio in Cabo Verde included four operations for a value of US$68 million.
The African Development Bank Group is Africa’s premier development finance institution. It comprises three separate entities: the African Development Bank (AfDB), the African Development Fund (ADF) and the Nigeria Trust Fund (NTF). Represented in 41 African countries, with an external office in Japan, the Bank contributes to the economic development and social progress of its 54 regional member states. SOURCE: African Development Bank Group (AfDB).
FIN/INFOSPLUSGABON/PKM/GABON2023
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