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Cabo Verde - Porto Ingles and Palmeira ports modernisation and expansion project - Appraisal Report

24-Jan-2019

Given the geographical configuration of Cabo Verde, the development of maritime transport is crucial for the country. The significant tourism potential of Maio Island cannot be developed due to the poor performance of the Porto Inglês in Maio. Moreover, the investments made in Palmeira Port during the first two phases of maritime works, executed in 2010 and 2017, have not been profitable to date due to the limited capacity of the port's land infrastructure. Hence, the Government of Cabo Verde has requested the Bank to contribute to the financing of the project to expand and modernize Porto Inglês in Maio and Palmeira Port in Sal. The implementation of this project would reduce territorial disparities and boost the tourism industry, which accounts for 47% of goods and services exports, by tapping the significant tourism potential of Maio Island. The expected outcomes are: (i) increased port traffic; (ii) the reduction of port transit times; (iii) improved supply of basic necessities and improvement of community living conditions on Maio Island; and (iv) increased product processing on Maio Island. Furthermore, this project is consistent with the current strategic framework for the promotion of the blue economy and, from a sectoral viewpoint, the Master Plan for the Palmeira Port in Sal prepared on 27 August 2007 for a period of 25 years.

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