The Prime Minister of Portugal announced this Sunday that the project to convert Cape Verde’s debt into environmental support provides for 12 million euros per year, and said the projects to be funded are being determined.
“Right now, with Cape Verde, which is an existing project and an agreement reached, it is envisaged to convert about 12 million euros per year,” the Prime Minister of Sao Tome and Principe said at a press conference. joint meeting with the President of the Republic following the 14th Summit of the Community of Portuguese Speaking Countries (CPLP), which was also attended by the Minister of Foreign Affairs.
António Costa noted that Cape Verde “will formally establish the [Climático e Ambiental] in October” and that “concrete projects to be funded are already being identified at the moment.”
The head of government explained that “at each stage of repaying the debt, which matures every year, this period is converted into investments to accelerate the environmental transformation in Cape Verde.”
Speaking this Sunday at the 14th CPLP Summit, the Prime Minister said that Portugal is ready to convert the debt of member states in support of the ecological transition, similar to what is happening with Cape Verde.
At a press conference, Costa said that “the level of debt and the amount of debt in each of the countries is very different and does not necessarily mean that it is the entire amount of debt.”
“As you know, we have a goal to contribute and be active partners so that we can all ensure the fight against climate change, but we ourselves have a very clear and objective goal – to reduce our own debt and quickly bring our doubts below 100%. product,” he stressed, pointing out the need to “manage these various goals in a well-thought-out and well-articulated way.”
In June, in the presence of the heads of government of both countries, a memorandum of understanding was signed between the finance ministries of Portugal and Cape Verde regarding the contribution to the Cape Verde Climate and Environment Fund.
Through this agreement, Portugal undertakes to make a financial contribution in an amount equivalent to the amounts reimbursed to it as capital under the debt service of the Republic of Cape Verde, up to 12 million euros, to be fulfilled by 2025.
This means that this amount of Cape Verde debt to Portugal will be converted into energy transition investments in the State of Cape Verde.
Speaking to reporters after a conference that brought together the heads of state and government of Portuguese-speaking countries in Sao Tome and Principe, the Prime Minister also detailed the proposal to create an exchange program for higher education students from CPLP countries to study outside their country for a semester, indicating that this implies “having at least one recognized and certified higher education course in all countries”.
The goal is to “achieve this in 2026,” he said.
Also, in a conversation with journalists, the President of the Republic summed up the summit and said that “it was successful” and that after almost three decades, the CPLP is “very alive.”
Marcelo Rebelo de Sousa noted that Portugal “by far was the country that presented the most proposals” at this meeting under the theme “Youth and Sustainable Development”.
Author: Portuguese
Source: CM Jornal
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