Cape Verde joins Africa Finance Corporation

Cape Verde is the newest member of the Africa Finance Corporation (AFC). On 25th March 2014, during the inaugural Infrastructure Investment Summit of the AFC, Cape Verde signed the Instrument of Accession and Acceptance of membership of the Africa Finance Corporation.

Ms Cristina Duarte, Minister of Economy and Finance, Cape Verde, on behalf of the Government of Cape Verde, in her brief remarks during the formal signing ceremony stated: “I am very pleased to formalise Cape Verde’s membership of the Africa Finance Corporation.

A statement from the Corporation said “Cape Verde and the AFC have enjoyed a very productive and collaborative relationship over the last few years. As the lead investor in Cabeolica, our award winning US$90m 26MW commercial wind farm, we have first-hand experience of the expertise the corporation can bring to innovative projects. The Corporation’s commendable track record in partnering with governments to provide innovative financing solutions in natural resources, power, heavy industry, telecommunications and transport is validation of the value of such an international organisation, and is why Cape Verde is delighted to be joining as a member.”

Welcoming Cape Verde as the ninth member of the leading African Infrastructure finance institution, the AFC’s President & Chief Executive Officer, Mr. Andrew Alli, expressed AFC’s appreciation to The Republic of Cape Verde for acceding to membership of the Corporation. “AFC is delighted to have Cape Verde as the first Island State member of the Corporation. We are committed to helping Cape Verde develop its enabling infrastructure, specifically through the expansion of much needed transport infrastructure and industrial capacity, to drive sustainable economic growth.”

Cape Verde joins other African countries, notably Nigeria, Ghana, Chad, The Gambia, Guinea, GuineaBissau, Liberia and Sierra-Leone as member states of the AFC.