| Approval Date | 26 Nov 2015 |
| Signature Date | 30 Nov 2015 |
| Planned Completion Date | 31 Dec 2016 |
| Last Disbursement Planned Date | 31 Dec 2016 |
| Sovereign / Non-Sovereign | Sovereign |
| Sector | Multi-Sector |
| DAC Sector Code | 15124 |
| Environmental Category | 3 |
| Commitment | U.A 11,424,480.38 |
| Status | Completion |
Economic Growth Support Programme Phase I (PACE-I) is the first phase of a series of two programme-based budget support operations. One of the reasons it was initiated is that Cabo Verde faces several challenges that could hamper its economic growth in the medium term. PACE-I aims to consolidate the gains of previous operations and contribute to sustained economic growth by improving the efficiency of public investment and supporting the promotion of private sector development. The programme is a continuation of previous budget support operations whose results have helped to improve not only the public finance management system, but also public corporate governance and the promotion of private investment. This programme is structured around two complementary components. The first component, which focuses on the effectiveness of public investment, will make it possible, through major structural reforms, to: (i) improve public corporate governance and the public investment framework; and (ii) modernize the framework of public-private partnerships. As for the second component, the support to promote private sector development will focus on: (i) improving the business environment; and (ii) supporting entrepreneurship and the formalization of informal activities.
PACE-I's goal is to contribute to creating the conditions for sustained economic growth by improving the efficiency of public investment and promoting private sector development. The programme is intended to support Government’s efforts through operational objectives, namely: (i) improvement of public corporate governance and the public investment framework; (ii) modernization of the public-private partnership (PPP) framework; (iii) improvement of the business environment; and (iv) promotion of entrepreneurship and formalization of informal activities.
PACE-I should benefit the entire Cabo Verde population. The results from sound management of public investments and a more developed private sector should improve the population’s living conditions. Good public corporate governance lead to the improvement of the quality of public services provided to users. Efforts to facilitate access to financing, on the one hand, and the provision of training aimed at supporting the establishment and development of MSEs, on the other, make the private sector more dynamic and responsive to increased opportunities from the massive public investment projects.
|
Funding
African Development Bank
|
|
Implementing
Ministry of Finance and Planning (MFP)
|
|
Implementing
MINISTERE DES FINANCES ET DE L'ADMINISTRATION PUBLIQUE DIRECTION GENERALE DU TRESOR
|
| IATI identifier | 46002-P-CV-KA0-006 |
| Last Update | 31 Mar 2023 |
| Name | Leandre BASSOLE |
| l.bassole@afdb.org |