| World Bank finances fishing projects in Cape Verde | ||||
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Cape Verde is one of five African countries that will benefit from World Bank financing for fishing-sector projects. The financing accord was signed by Cape Verde’s ambassador to Washington, D.C., Fátima Veiga, and the World Bank representative for Cape Verde, Guinea Bissau, Mali and Senegal, Benjamin McDonald. In an initial phase, the World Bank is expected to make US$ 8 million in financing available. Liberia, Sierra Leone and Senegal are also to benefit from the World Bank loan, through the institution’s regional International Development Association funds, to the total of US$ 55 million. The objective, which contemplates countries demonstrating good governance, is aimed at supporting a self-sustained fishing program, measures aimed at reducing illegal fishing and the increase in the contribution of resources from the fishing vessel fleet in regional economies. The Ministry of the Environment, Rural Development and Marina Resources will be responsible for implementing the project in Cape Verde. |
