Cabo Verde – Morabeza Innovation Project

The proposed Results-Based Financing (RBF) project, spanning from 2024 to 2028 is structured to cover four budget years (2025, 2026, 2027 and 2028). The Bank’s financing of EUR 24 million accounts for 15.37% of the overall cost of the broader program, which totals EUR156.18million. This support is specifically targeted towards the implementation of 18 out of 37 key activities under Cabo Verde’s Digital Economy Sector Strategy. These activities focus on critical areas such as promoting digital nomads, supporting the digitalization of non-digital MSMEs, building capacity through training, and expanding access to digitally enabled financial inclusion for MSMEs. The project contributes to climate finance, with 9 million USD of the total approved amount dedicated to mitigation.