ADB approves budget support of 18.3 million euros for the Electronic Governance and Public Financial Management Reform Program
The Board of Directors of the ADB Group (African Development Bank) approved the granting of a loan in the amount of 18,262,950 euros, from the ordinary resources of the ADB window, in favor of the Republic of Cape Verde. This financing is intended to cover part of the costs of the Electronic Governance and Public Financial Management Reform Program (E-PFMRP) – Phase I.
The main objective of the program is to contribute to the economic growth of Cape Verde, improving the provision of public services, increasing the competitiveness of the economy and improving efficiency in the management of public resources. The program is structured around two aspects: strengthening electronic governance and promoting digital competitiveness, as well as modernizing public administration and improving public finances.
Furthermore, the program seeks to create a more enabling environment for the private sector by improving public services through e-governance, modernizing public administration in line with environmental and climate change, and enhancing transparency and effectiveness in management of public resources through increased national revenue mobilization and a more efficient public procurement system.
The implementation of this program will contribute to addressing the immediate challenges related to fiscal sustainability and promoting the country's long-term development.
