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Highlights – Board Meeting of 18 July 2018 - 2 PM
The Board noted that the purpose of the PSC-LED is to: (i) consolidate the achievements of past operations and support the efforts of the Cabo Verde authorities through reforms to improve overall competitiveness; and (ii) lay the foundation for local economic development. Board members supported this operation and its alignment with the interventions of other donors in the country. They pointed out that private sector development is crucial to drive sustainable growth, and requested Management to work together with development partners and dialogue with the authorities to ensure social inclusion, debt sustainability and the proper management of remittances from the diaspora. At the end of its deliberations, the Board approved a loan to the Republic of Cabo Verde to finance the program for improving the competitiveness of the private sector and developing the local economy.