Development initiatives in Cape Verde 'to receive US funding'

Money has been allocated to Cape Verde to assist the country in its efforts to fight inequality and social conditions, it has emerged.

It has been announced that Cape Verde is to receive US$1.4 million (£833,000) from the United States African Development Foundation.

The funds will be allocated to new social and economic projects in Cape Verde, Macauhub quotes the Inforpress Agency as reporting, as the country attempts to launch initiatives to improve its social and economic situation.

In particular, projects designed to fight poverty and inequality are to receive the funds - news that could be welcome for expats who own Cape Verde luxury townhouses and villas.

Overall, 17,000 people are set to benefit from the funding, the news provider informs.

The news agency also reported this week that the Investment Climate Facility for Africa reached an agreement with the Cape Verde government and offered it US$1.8 million towards improving its business sector.

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

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