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Europe to support Cape Verde with 55 million euros

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Staff writer ▼ | February 17, 2014
During his first ever visit to the country EU Development Commissioner, Andris Piebalgs, announced 55 million euros of new support for Cape Verde during the period 2014-2020.
Cape Verde
Cape VerdeDuring his first ever visit to the country EU Development Commissioner, Andris Piebalgs, announced 55 million euros of new support for Cape Verde during the period 2014-2020.


The funding will focus specifically on the areas of the fight against poverty, sustainable and inclusive growth and good governance.

The Commissioner bring the news about the first deployment of the EU's Technical Assistance Facility for Sustainable Energy for All in Cape Verde; a new instrument on energy cooperation which will cover the whole of Africa. The new facility will support the Cape Verdean authorities in identifying new and innovative project proposals in the energy sector.

The European Union will provide the expertise (sharing best practice and providing training, for example) required to achieve Cape Verde's ambitious energy target of providing 50% renewable energy in the electricity mix by 2020.

At the same time, tthe Cabeolica Wind farm project is the first large-scale wind project in Africa and has already achieved impressive results increasing the country's share of renewable energy to 25 percent in one go.

The project is the first renewable energy public/private partnership in sub-Saharan Africa, and it shows how partnerships with development banks working together with the private sector, present a business model that could be successfully replicated in many other countries.

The EU provided 51 million euros to Cape Verde between 2008 -2013 through the European Development Fund (EDF). As a result of the mid-term review, additional funds (10.2 million euros) were also made available.

As a continuation of the EU's general budget support to the Cape Verde and the on-going budget support programme (entitled Good Governance and Development Contract or GGDC), new contracts will also be put in place between the EU and Cape Verde. It will continue to support Cape Verde's development strategy and the EU-Cape Verde Special Partnership.

New support to the EU Cape Verde Special Partnership (which enhances EU cooperation with the country in areas of mutual interest, such as security and stability, as well as the harmonisation of technology and standards, to bring them in line with the EU) is also foreseen.


 

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