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July 2017

Closed Compact Report

Closed Compact Report: Cabo Verde Compact

  • Signed: July 15, 2005
  • Entry into Force: October 18, 2005
  • Compact End Date: October 17, 2010

Closed Compact Reports are published for compacts completed before November 2017. The reports capture core information such as the country context, descriptions of compact investments and results, and information on important partnerships, policy reforms and lessons learned

  1. In July 2005, MCC and Cabo Verde signed a $110 million compact focusing on investments in infrastructure, watershed management and agricultural support, and private sector development.

  2. A group of islands in the North Atlantic Ocean just west of Senegal, Cabo Verde has been committed to achieving impressive socio-economic gains in areas like literacy rates, educational attainment, life expectancy and per-capita income.

  3. The Infrastructure Project worked to increase integration of internal markets and reduce transportation costs by improving road infrastructure on the islands of Santiago and Santo Antão, and funding a major expansion of the port on the island of Santiago.

  4. The Private Sector Development Project worked to reduce early-stage project development risks that dissuade private investors and implement financial sector reform to increase access to financial serves and improve financial flows.

  5. The Watershed Management and Agriculture Support Project was designed to address these constraints and increase agricultural productivity in three specific watershed areas on the islands of Santo Antão, Fogo, and São Nicolau.

  6. Learn how MCC and Cabo Verde agreed to adjust compact targets due to changes in estimated costs and project progress.

  7. Discover MCC’s efforts to coordinate resources and expertise with other donors and international institutions as part of the Cabo Verde Compact.

  8. Read the conditions that Cabo Verde needed to meet under the terms of the compact prior to disbursing project funds.

  9. Understand what MCC learned from the Cabo Verde Compact and how those lessons are applied to our programs today.