|Approval Date||18 Jul 2018|
|Signature Date||02 Aug 2018|
|Planned Completion Date||31 Dec 2019|
|Last Disbursement Planned Date||31 Dec 2019|
|Sovereign / Non-Sovereign||Sovereign|
|DAC Sector Code||15110|
The first phase of the Private Sector Competitiveness and Local Economic Development Programme (PSC-LED) is designed in a context where the Government of Cabo Verde (GoCV) is entering the implementation phase of its new Economic Plan for Sustainable Development 2018-2021 (PEDS). Indeed, the country faces two major problems: ensuring consolidation and moving to the paradigm of growth in favor of the private sector, and ensuring that growth is inclusive for the entire national territory and the different layers of the society. To address these issues, PSC-LED aims to (i) consolidate the gains from previous operations, and support Cabo Verde's efforts to tackle the above challenges through reforms to improve overall competitiveness, while also (ii) seeking to set the basis for local economic development. In addition, the PSC-LED is not only concerned with the pace of growth (i.e. growth levels), but its pattern (i.e. sources of growth and spatial distribution). It focus on the domestic private sector, its competitiveness and local economic development across islands. PSC-LED-I is based on two components, namely: (1) promotion of competitiveness and private sector development; and (2) promotion of local economic development and local governance.
The program’s development objective is to promote inclusive and sustainable economic development. Its objective is to support the National Development Plan’s objective geared towards a move to private sector led growth and local economic development.
PSC-LED-I will benefit the entire Cabo Verde population. The results from sound management of public investments and a more developed private sector will improve the population’s living conditions. Good public corporate governance will 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, will make the private sector more dynamic and responsive to increased opportunities from the massive public investment projects. These positive effects will spur economic growth in the country for the good of the people.
African Development Bank
Ministère des Finances
|Last Update||31 Oct 2019|