PRIVATE/FINANCIAL SE

closed

The capacity Building Project for Private Sector Promotion's long term development objectives are: 1) employment creation in the formal sector; and 2) a well functioning financial sector. The specific implementation objectives are: 1) for the private sector, to enhance the country's foreign exchange earnings, attract foreign investments and improve the performance of private enterprises; and 2) for the financial sector, to enhance the functioning of the Central Bank of Cape Verde (BCV) as a monetary authority and improve financial intermediation through strengthening of banks and non-banking institutions. The project will comprise the following components: 1) a private sector component which consists of: (a) institutional support to the Export and Investment Promotion Center including: (i) development of export manufacturing activities; (ii) development of tourism activities; (iii) development of an export processing zone in Mindelo; (iv) establishment of an international marine registry; (v) establishment of a video-conferencing facility; and (vi) private sector coordination services; and (b) support to domestic enterprises; and 2) a financial sector component consisting of: (a) assistance to BCV; (b) institutional strengthening of Banco Comercial do Atlantico; (c) support to Caixa Economica de Cabo Verde; (d) support to the Instituto de Seguros de Cabo Verde; and (e) support to the Instituto Nacional de Previdencia Social. The second component of the project will also include some advisory services, equipment, training, technical support, external audit, privatization plan and management information system and computer equipment.