- Grant Total: $66,230,000
- Grant Committed: $26,011,091
- Grant Expended: $18,255,432
- Signed: February 10, 2012
- Entry Into Force: November 30, 2012
- Completed: November 30, 2017
This five-year compact with Cabo Verde is intended to increase household incomes by reforming two sectors identified as current constraints to economic growth: the water and sanitation sector and the land management sector. Each compact project is an important component of the Government of Cabo Verde’s economic transformation agenda, focused on shifting from a reliance on foreign aid and remittances to mobilization of private sector investment and improved domestic resource management. This compact builds off the success of Cabo Verde’s first MCC compact, completed in October 2010, and upholds high standards for accountability, transparency and achieving results.
Financials as of March 31, 2015
The $17.3 million Land Management for Investment Project is expected to improve Cape Verde’s investment climate by refining the legal, institutional and procedural environment to create conditions for increased reliability of land information, greater efficiency in land administration transactions, and strengthened protection of land rights; developing and implementing a new land information management system; and clarifying parcel rights and boundaries on targeted islands with high investment potential.
The project supports the Government of Cape Verde in creating a single reliable and easily accessible source of land rights and land boundaries information, which is expected to strengthen Cape Verde’s investment climate for large and small investors and reduce land registration time and costs.
The project is comprised of two activities:
- Legal and Institutional Foundations Activity
- Rights and Boundaries Activity
Cape Verde, an extremely water-scarce country, faces a number of challenges in the water and sanitation sector. The $39.7 million Water, Sanitation, and Hygiene Project (WASH Project) is designed to establish a financially sound, transparent and accountable institutional basis for the delivery of water and sanitation services to Cape Verdean households and businesses.
The project’s approach to improving sector performance is based on a three-pronged strategy: reforming national policy and regulatory institutions, transforming inefficient utilities into independent corporate entities operating on a commercial basis, and improving the quality and reach of water and sanitation infrastructure.
The WASH Project is comprised of three activities:
- National Institutional and Regulatory Reform Activity
- Utility Reform Activity
- Infrastructure Grant Facility