``Building New Partnerships for the Sustainable Development of Cabo Verde``
DECEMBER 11 AND 12, PARIS – FRANCE
“Building New Partnerships for the Sustainable Development of Cabo Verde”
The Government of Cabo Verde has responded to the country’s challenges with a Strategic Plan for Sustainable Development 2017 -2021 (PEDS), integrating the SDGs and the principles of the Africa 2063 Agenda.
The PEDS provides the country with an integrated vision which, if implemented in full, will bring about the structural transformations required for long term sustainable development and resilience.
The plan is centred around four key objectives:
- “Making Cabo Verde a Circular Economy in the Middle Atlantic,” (connectivity, the blue economy, green growth, tourism development; and business, industry, and financial services).
- Guarantee sustainable economic development (sustainable tourism, domestic industry and export promotion);
- Assure social inclusion and reduce inequalities (education and professional training; health and social security; job creation and youth and gender equality);
- Strengthen democracy, justice and international diplomacy, and engage the diaspora.
The achievement of this vision will require high capital investments in key transformative sectors.The need to urgently develop strategic and innovative approaches to securing new financing and building the partnerships required to invest in sustainable and inclusive development is well recognized. This will require new forms of collaboration between international partners and the private sector.
To underpin these transformative investments, two pre-conditions are critical. First, a continuing partnership with the international community that supports national reform processes and a strengthened and modernized public administration and state apparatus.
Second, it will be vital to look at ways in which concessional finance and technical assistance from the international community can be used to leverage private sector investment in Cabo Verde’s economy, through new financial instruments and approaches such as blended finance, which can help to de-risk and catalyse new investment in key infrastructure and technology. This will be a key focus of the international conference.
Through the implementation of the PEDS, Cabo Verde wants to become a beacon for other Small Island Developing States.