Cape Verde 'to receive $10 million for infrastructure'

For Overseas property owners, getting to know Cape Verde could be even easier with the installation of a new ring road on one of its islands.

Cape Verde is set to receive US$10 million (£8.7 million) in loans from the Saudi Fund for Development, which will go towards the construction of a new ring road - meaning those with Cape Verde property may be able to get around their second home easier.

The road, to be built on Fogo Island, will link three municipalities and will involve a network stretching over 80 kilometres. However, the thoroughfare will not create an eyesore, as some of it will be paved with traditional cobblestones and the rest in asphalt.

Macauhub reports that the overall cost of the operation will be $36.13 million. The remaining funds for the project will come from the Cape Verdean government and the Arab Bank for Economic Development of Africa.

Financial agreements concerning the new road will be confirmed and signed at the end of this week.

Fogo Island is also home to another attractive prospect - Cha Vinho Branco do Fogo - a wine which is made from grapes grown on the edge of a volcano.

This article has been brought to you be Sambala; the developer for Cape Verde Property.

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