Washington — The World Bank Board of Executive Directors has approved a $15 million Development Policy Financing (DPF) credit for Cabo Verde, supporting key government efforts to reinforce fiscal resilience and accelerate progress toward sustainable and climate-resilient development. The operation consists of concessional financing from the International Development Association (IDA).

This operation is the third in a programmatic series and builds on the reform momentum achieved through earlier engagements. It is aligned with the Government's Strategic Plan for Sustainable Development II (PEDS II) and supports the country's ambition to consolidate macroeconomic stability, promote private-sector-led growth, and broaden opportunities.

The program is structured around three core pillars: Pillar A - Strengthen Fiscal Resilience, which supports stronger revenue mobilization, improved fiscal governance, and reduced SOE-related risks; Pillar B - Advance Digitalization and Renewable Energy, which promotes expanded digital public services, universal electricity access, and increased renewable energy generation; and Pillar C - Enhance Economic Opportunities, which improves sustainability in fisheries, supports tourism diversification, and fosters greater participation of women in the economy.

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"Cabo Verde is making steady progress to enhance its resilience through important reforms such as incorporating climate risk assessments into public investments and strengthening tax policy and administration - both of which are critical to bolster fiscal resilience and climate readiness. This operation reinforces the country's ongoing reform path and supports the next generation of measures to strengthen fiscal stability and expand new avenues for private-sector-led growth" said Indira Campos, World Bank Group Resident Representative for Cabo Verde.