The prime ministers of Portugal and Cabo Verde are on Tuesday in Lisbon to preside over the signing of bilateral agreements, of which the creation of an Environmental Climate Fund to involve around €12 million stands out.
António Costa of Portugal is joined by Ulisses Correia e Silva of Cabo Verde at 9.30 a.m. at the former’s official residence in São Bento, Lisbon, for a meeting, followed by a ceremony to sign legal instruments and a joint statement to media press by the leaders of the two governments.
According to a Portuguese diplomatic source, with the agreement on the Environmental Climate Fund, which is to be created by the authorities in Cabo Verde, Portugal takes on the commitment to fund it to the tune of €12 million.
These €12 million correspond to the amount owed by the Cabo Verde state, as capital, under the Agreement to Consolidate Cabo Verde’s Debt to Portugal that was signed on 1 February 2022.
“The memorandum of understanding to be signed between Portugal and Cabo Verde aims to strengthen Portugal’s commitment to contribute to the consolidation of Cabo Verde’s sustainable development process, supporting strategic investments that promote the fight against climate change in that country, meeting international commitments made by both parties,” reads a statement sent to Lusa.
According to the government of Portugal, it is the first country to take part in the future environmental climate fund; it is understood that this step represents “an unequivocal sign of strong bilateral commitment to Cabo Verde, hoping that this example will motivate other countries, international financial institutions and multilateral organisations to sign up to this fund.
“Portugal has worked actively with partner countries to develop innovative solutions adapted to each reality to respond to the global challenge of the high costs of public debt services, a brake on the investment capacity of the most vulnerable countries to break cycles of poverty and combat climate change,” the same statement adds.
After his meeting with the prime minister of Cabo Verde, Costa is to receive the president of Senegal, Macky Sal, at 1 p.m.
At the end of that meeting, a ceremony is scheduled at which several bilateral agreements are to be signed, followed by a lunch hosted by the prime minister for the visiting president.
