Cabo Verde to boost digital, energy sectors with €300m EU funding

The Government of Cabo Verde, the European Union, and the European Investment Bank (EIB) announced a €300 million financing agreement on September 4, 2024 to boost the country’s digital technology, ports, and renewable energy sectors as part of the EU’s “Global Gateway” strategy.

The package includes €159 million for energy projects under Cabo Verde’s National Electricity Master Plan, aimed at reducing dependence on fossil fuels by 2040.

Additionally, €37 million will strengthen digital connectivity, including new submarine cables linking Europe to West Africa, positioning Cabo Verde as a digital hub.

The agreement also includes €105 million for the expansion and modernisation of key ports, enhancing the country’s maritime infrastructure.

EU Commissioner Jutta Urpilainen and EIB Vice President Ambroise Fayolle emphasised the partnership’s role in promoting sustainable development and regional leadership for Cabo Verde.