Cape Verde nets $66.2 million infrastructure investment

Cape Verde’s economy look set to benefit from a new US $66.2 million inward investment agreement designed to reform its water, sanitation and land-management policies and “foster further economic growth – in particular in real estate and tourism.”

According to the latest IMF (International Monetary Fund) projections, GDP growth in Cape Verde is already expected to rise to 7.1% by 2013. The fresh aid injection by a leading US agency will give things an extra boost.

Adam Cornwell, Managing Director of Feltrim International which promotes overseas property sales on archipelago of islands, “Cape Verde is a nation on the up.”

Cornwell told OPP this week that the African republic “has already halved its 1990 poverty levels, and in 2008 it officially graduated from Least Developed to Middle Income Country status.”