News from Islands
Cape Verde government is preparing plans for the Compact II Millennium Challenge Account
Praia, Cape Verde, 4 May - The Minister of Finance and Planning of Cape Verde, Cristina Duarte, announced Monday, the early phase of technical studies and analysis of profitability of the projects to be submitted to the Millennium Challenge Corporation ( MCC) in order to achieve the Compact II Millennium Challenge Account (MCA).
The official, who spoke at the ceremony honoring the outgoing director of the MCC in Cape Verde, Stahe Panagides, said that at this time, the components are already identified and that there remains only do analysis in terms of economic efficiency, social and financial aspects of projects. Cited by Cape Verdean news agency Inforpress, the minister pointed out that, to be selected under the compact, the projects must obey the criteria of profitability, without which not even appreciated. Cape Verde was considered in early January, as a country eligible for MCA Compact II and the government is confident it will achieve it, given the success of the compact I, whose execution expired at the end of last year. Water and sanitation, the register in order to increase the level of legal certainty in property transactions, the private sector and specialized higher education facing the four groups (sea, sky, knowledge society and the financial sector) are the areas already identified.
The archipelago has until September 2011 to submit all documentation to the direction of the MCC and the results should be known later this year.
Source: macauhub
