Cape Verde is the newest member of the Africa Finance Corporation.
A statement by the AFC said Cape Verde joined the financial institution through an agreement signed at its inaugural Infrastructure Investment Summit held in Lagos recently.
The Minister of Economy and Finance, Cape Verde, Ms Cristina Duarte, signed the agreement on behalf of her country.
The statement quoted her as saying, “I am very pleased to formalise Cape Verde’s membership of the Africa Finance Corporation. 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 $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.”