The € 32 million with which the European Union will finance the fight against poverty in Cape Verde between now and 2011 "is a sign of a high level of confidence" in the government, according to affirmations made today, May 28, by Minister of Finances and Public Administration Cristina Duarte.

This morning Cristina Duarte signed a financing convention with the European Union ambassador to Cape Verde, Josep Coll. The document calls for € 16 million in support for Cape Verdes Economic Growth and Poverty Reduction Strategy.

But the 10th edition of the European Development Fund, which remains in effect until 2013, calls for financing totaling € 32 million. "This represents a qualitative leap and greater engagement from both sides," affirmed the Finance Minister.

Cristina Duarte stressed that most of the support goes directly to the State budget, something that "requires greater efficiency," as "it is up to Cape Verde to achieve the objectives defined."

Josep Coll also stated that budget aid is "the best way to help this country." "Responsibility is accepted by Cape Verdean political actors, in whom we deposit our trust," he added.

Cristina Duarte also mentioned the need for "greater coordination between the two sides in order to reduce the risk of penalizations." "In January, we got somewhat of a shock, as we ran the risk of losing a significant part of our financing due to problems of coordination," she said. The situation, according to the cabinet minister, was only resolved by a joint effort on the part of the Ministry of Finances, the European Development Fund and the EU.