PM of Cape Verde acknowledges African Development Bank support for poverty reduction
“The African Development Bank ADB has been in Cape Verde overcoming all adversities caused by exogenous shocks and has always supported the country in its social and economic progress agenda,” said José Maria Neves, the head of government after receiving the president of the African financial institution, Akinwumi Adesina, in Praia this morning.
“Recently, some ADB interventions in Cape Verde have helped to improve the livelihood of families and reduce poverty,” he added.
The ADB president is in Cabo Verde today to inaugurate the works to modernize and expand the port of Maio Island.
This project, which also includes the port of Palmeira on the island of Sal, was approved in 2018 with a total cost of 36.14 million euros (US$36 million) and financed by the African bank with 17.87 million euros.
The remaining 50% was financed by the Cape Verdean State, through the company that manages the country’s ports (Enapor), at 20%, and by the European Union (30%).
For the government, the modernization and expansion of the Port of Maio is a “structural work” and one of the main priorities for the island in terms of economic growth and development of the country, focusing on the economic potential of the island and the development of the infrastructure of the national shipping system.
The goal is to “contribute to the improvement of the living conditions of the population,” according to the authorities, who believe that the conditions are in place for greater investment in the tourism sector.
“Santiago Island, due to its proximity, can complement its current tourist offer by developing new products, taking advantage of the complementary potential of the two islands, and exploring the potential of the expected flow of transit tourists through a concerted action between operators,” said a government statement on the opening.
With the works, the port will be 350 meters long, with a variable depth of up to 15 meters, two ramps for roll-on/roll-off vessels, a 150-meter breakwater, the doubling of the embankment, and the installation of a metal ramp that can be adapted to the needs of small vessels, as well as the construction of a new access road 800 meters long.
Over the weekend, the CV Interilhas vessel “Liberdadi” carried out a trial and test run to the ramp, which, according to Cape Verdean authorities, went usually and is considered “historic” for the island.
According to the government, the island of Maio will also benefit from “more reliable access” to the Santiago Island market, facilitating the sale of ever-increasing volumes of agricultural and livestock production at lower costs.
The project will also “ensure a more resilient supply chain, anchored in the city of Praia and minimizing the risks of interruptions,” he added.
This article was produced by The Rio Times’ automated AI newsroom. Editorial responsibility: Matthias Camenzind, Publisher and Editor-in-Chief. The Rio Times also runs Ask Rio Times, which answers from 100,000+ of our own articles, the daily Latin America Power Map, and prediction-market odds on elections and markets.. How we use AI · Report an error