Portugal hosts bilateral summit with Cape Verde on 19 November

Portugal will host the next bilateral summit with Cape Verde on 19 November, as announced by the Prime Ministers of both countries in Praia.

Special relations merit "special events", claimed Luís Montenegro, adding that there will be a bilateral meeting between entrepreneurs and economic players from both countries on the side of the summit. "We have seen the investment made by Portuguese companies in Cape Verde bear fruits", the Prime Minister noted.

"There is the room, the desire, and the conditions in place to boost our economic and corporate partnership, harnessing the opportunities in various areas", Ulisses Correia e Silva stated in turn.

The Cape Verdean Prime Minister hopes that "an investment forum" is held on the side of the summit "that is encompassing and includes tourism, the blue economy, the digital economy, industry, and opportunities, as well as the digital transformation and energy transition".

At the meeting, both Heads of Government exchanged praises, indicated the lines where they converge and the willingness to boost relations, expanding private investment.

Luís Montenegro announced he wishes to move forward with the second stage of swapping Cape Verdean debt for climate investment after 2025, an example both countries have shared with the world.

The Portuguese Prime Minister noted that the first stage, to the sum of 12 million euros, is being implemented and will be assessed. This instrument is shown as advantageous to both sides: Cape Verde writes off its debt and the Portuguese companies find a way of becoming more international in the field of renewables, of which they are knowledgeable, Luís Montenegro stressed.

The Portuguese Prime Minister promised to continue investing in the Cape Verde Portuguese School (EPCV) and have Portuguese language as an "economic competitiveness" factor. "It is in this perspective that we should see the enhancement of our language" he added before ensuring also that Portugal will "always" stand by Cape Verde in multilateral issues, whether in the relations with the European Union or NATO.

While still in the Government Palace, José Cesário, the Secretary of State for Portugal’s Communities, Adalgisa Vaz, the Secretary of State for Cape Verde’s Corporate Development, and Pedro Soares, Chairman of the Banco Interatlântico (Caixa Geral de Depósitos group) signed an agreement to set up a special line of microcredit to support entrepreneurship in Cape Verde, especially among youths and women.

The 500-thousand-euro line is added to the Portuguese assistance offered to Cape Verde and abides by what should be the State’s role, as per the Portuguese Prime Minister: "to offer the instruments" to those who are willing to "take a risk" in a new business.

The Prime Minister’s visit to Cape Verde, the firs outside Europe, ends on Sunday with a meeting with the representatives of the Portuguese community.