Cabo Verde - Private Sector Development

Metadata Updated: February 10, 2021

The objective of the Private Sector Development Project activities of the 2005-2010 Cabo Verde Compact was to support Cabo Verde's long-term economic transformation strategy of becoming less dependent on remittances and donor aid by developing a competitive, private-sector driven economy through a focus on the priority sectors.

The Private Sector Development Project included the following two Activities:

1) Partnership to Mobilize Investment Activity: Designed to remove constraints to investment and stimulate the priority sectors of the economy by reducing early-stage project development risks that dissuade both domestic and international private investors.

2) Financial Sector Reform Activity: Designed to increase access to financial services and improve financial intermediation by expanding access to the primary market for government securities. The Financial Sector Reform Activity consisted of two sub-activities with the following objectives: a) to increase access to credit by supporting the development of micro-finance institutions and b) to increase financial intermediation by expanding access to the primary market for government securities.

In order to achieve the Financial Sector Reform objectives, MCC funding supported:

1) Expansion of Access to the Primary Market for Government Securities: This sub-activity supported financial sector competitiveness by enabling domestic, non-bank investors, including individuals and corporations, to access the primary market for government securities. It is expected that this activity will assist in creating a more transparent market. Specifically, MCC funding supported a) technical assistance to the Ministry of Finance to assist with the development of new auction procedures and related matters such as the design of a registry of ownership and the role of financial intermediaries; and b) the provision of software to support the primary government securities market.

2) Development of Micro Finance Institutions (MFIs): This sub-activity focused on transitioning MFIs to being both deposit-takers and regulated entities and enabling them to become more significant providers of credit, savings, and other financial services to both rural residents and the urban poor. Specifically, MCC funding a) supported technical assistance to assist MFIs to take advantage of expanded deposit-taking powers and to ease the transition to a new regulatory environment (e.g., defining governance structure and institutional policies, design and pricing of liability products, asset liability management and tracking, marketing, and regulatory reporting requirements, etc.); and b) provided software to support the record-keeping associated with those deposit-taking powers.

This report evaluates the development of organizational and human capacities MFI financial intermediation services intended to ensure a continuous and sustainable provision of financial services to groups not covered by traditional credit lending institutions. The report draws on a i) comprehensive review of the literature, b) in-depth interviews with targeted MFI managers and c) focus group sessions and semi-structured interviews with the beneficiaries of the agricultural credit.

The report also evaluates the effects of training on the Cabo Verde Federation of Micro Finance institutions (FAM-F); an umbrella organization designed to promote the growth, consolidation and integration of the micro-finance industry in the overall financial system.

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Metadata Created Date November 12, 2020
Metadata Updated Date February 10, 2021

Metadata Source

Harvested from MCC Data.json

Additional Metadata

Resource Type Dataset
Metadata Created Date November 12, 2020
Metadata Updated Date February 10, 2021
Publisher Millennium Challenge Corporation
Unique Identifier Unknown
Identifier DDI-MCC-CPV-IND-PSD-2010-v1
Data Last Modified 2018-10-22
Public Access Level public
Bureau Code 184:03
Metadata Context
Schema Version
Catalog Describedby
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Harvest Source Id 23cd936b-e509-46f3-af7f-71c4ab01a514
Harvest Source Title MCC Data.json
Homepage URL
Program Code 184:000
Source Datajson Identifier True
Source Hash bbf32b35a8ee915ff7c65456eece5f4ec682aa4c
Source Schema Version 1.1

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