Praia, 18 May 2025 – Cape Verde is entering a new phase in its partnership with the World Bank. During an official visit by Makhtar Diop, Executive Director of the International Finance Corporation (IFC), a renewed commitment was confirmed to strengthen strategic cooperation between IFC and the Republic of Cabo Verde.
The IFC, a member of the World Bank Group focused on financing and supporting the private sector in developing countries, plans to expand investments into key areas, including:
-
transportation (with a focus on air mobility),
-
culture and the creative industries,
-
the blue and digital economy,
-
tourism and hospitality.
Currently, IFC’s active investment portfolio in Cape Verde amounts to 110 million USD – a significant rise from zero just five years ago. Prime Minister Ulisses Correia e Silva expressed interest in doubling this portfolio, aiming to strengthen private sector capacity, create qualified jobs, and open up opportunities for the country’s youth.
“This is a partnership that delivers real value: investment, expertise, and a long-term commitment to sustainable growth,” said the Prime Minister.
What Should Not Be Overlooked?
This development is not merely a technical note on international funding. It is a strong signal that Cape Verde is entering a new era of development thinking grounded in partnership and innovation. The focus on the creative economy, digital infrastructure, and inter-island connectivity demonstrates a readiness to address the complex development challenges of the 21st century.
For Czech companies, institutions, and investors, this could mean:
-
increased openness of Cape Verdean institutions to new forms of international cooperation,
-
emerging access to sectors that were once considered too small or remote,
-
and opportunities to participate in transformational projects with international backing.
The Czech-Cape Verdean Chamber of Commerce views the expanding role of the IFC as a clear indicator of the country’s stability, credibility, and readiness for serious investment dialogue.
Sources:
rfi
Official Facebook page of Cape Verdean Prime Minister Ulisses Correia e Silva
