Cape Verde - DPL 1/PRSC VI

Abstract*

The objective of the Sixth Poverty Reduction Support Credit Program (PRSC VI) for Cape Verde is to support the policy reforms and institutional development necessary to foster sustained economic growth. The Government of Cape Verde (GOCV) has made considerable progress in achieving its reform objectives under both the current and previous PRSC series and has completed all PRSC benchmarks. Additionally, the government has met all assessment criteria... Show More

Development Objective

The overall objective of this operation is to support the policy reforms and institutional development necessary to foster sustained economic growth. The enhancing government operations component objective is to preserve macroeconomic stability and improve government service delivery through the implementation of a reform agenda for public finance management, procurement, government structureand introduction of M&E tools in government programs. Improvements in competitiveness aim at strengthening and rationalizing financial sector regulation to bolster the stability of the financial system and improve the business climate and foster greater private sector development. The objective of the infrastructure pillar is to ease infrastructure bottlenecks through reforms in public utilities management.

Key Details

Project Details

Project ID
P121812
Status
Closed
Team Leader
Fernando Blanco Cossio
Borrower 2
N/A

Country
Cabo Verde
Disclosure Date
September 20, 2010
Approval Date
(as of board presentation)
December 16, 2010
Effective Date
December 22, 2010

Total Project Cost 1
US$ 10.00 million
Implementing Agency
N/A
Region
Western and Central Africa
Fiscal Year 3
2011

Commitment Amount
US$ 10.00 million
Environmental Category
N/A
Environmental and Social Risk
Not Applicable
Closing Date
June 30, 2011

Last Stage Reached
BANK APPROVED
Parent Projects
P113306
Last Update Date
March 6, 2024

Associated Projects
P122669

Notes
1. Total project cost includes funding from World Bank and non-bank sources in US$ millions. Active and Closed projects show current commitments. Proposed (pipeline) and dropped projects show the forecast amount. The commitment amount for projects in the pipeline is indicative and may be modified during the project preparation.
2. Borrower refers to the Borrower of a Loan or Recipient of a Grant.
3. ”Fiscal Year” is the fiscal year in which the project was approved (or dropped if the status is dropped). The World Bank's fiscal year is from July 1 - June 30. For example, a fiscal year of 1996 corresponds to July 1, 1995 - June 30, 1996.

Sectors

Themes

FY17 - Economic Policy

FY17 - Fiscal Policy6%
- FY17 - Fiscal sustainability6%

FY17 - Private Sector Development

FY17 - Business Enabling Environment25%
- FY17 - Regulation and Competition Policy25%
FY17 - Enterprise Development13%
- FY17 - MSME Development13%
FY17 - Jobs100%

FY17 - Public Sector Management

FY17 - Public Administration32%
- FY17 - Administrative and Civil Service Reform13%
- FY17 - Transparency, Accountability and Good Governance19%
FY17 - Public Finance Management25%
- FY17 - Debt Management6%
- FY17 - Public Expenditure Management19%

Project Map

Interactive Map

Finances

Financing Plan (US$ Millions)

Financier	Commitments
IDA Credit	10.00

Total Project Financing (US$ Millions)

Product Line	IBRD/IDA
IBRD Commitment	N/A
IDA Commitment	10.00
IBRD + IDA Commitment	10.00

Lending Instrument
Grant Amount	N/A
Total Project Cost**	10.00

Summary Status of World Bank Financing (US$ Millions) as of July 31, 2025

No data available.

Detailed Financial Activity as of July 31, 2025

Download:

Period	Financier	Transaction Type	Amount (US$)
Dec 15, 2017	IDA-48400	Int Charges	33,937.44
Jun 15, 2018	IDA-48400	Int Charges	33,847.87
Jun 15, 2018	IDA-48400	Int Charges	33,847.87
Jun 15, 2018	IDA-48400	Int Charges	17.33
Jun 15, 2018	IDA-48400	Int Charges	17.33
Jun 15, 2016	IDA-48400	Int Charges	730.16
Jun 15, 2016	IDA-48400	Int Charges	33,004.00
Jun 15, 2016	IDA-48400	Int Charges	33,004.00
Jun 15, 2016	IDA-48400	Int Charges	730.16
Dec 15, 2016	IDA-48400	Int Charges	32,154.72
Dec 15, 2016	IDA-48400	Int Charges	32,154.72
Dec 15, 2016	IDA-48400	Int Charges	14.17
Dec 15, 2016	IDA-48400	Int Charges	14.17
Dec 15, 2014	IDA-48400	Int Charges	205.41
Dec 15, 2014	IDA-48400	Int Charges	205.41
Dec 16, 2014	IDA-48400	Int Charges	35,069.08
Dec 16, 2014	IDA-48400	Int Charges	35,069.08
Jun 15, 2015	IDA-48400	Int Charges	349.68
Jun 15, 2015	IDA-48400	Int Charges	349.68
Jun 15, 2015	IDA-48400	Int Charges	32,592.95
Jun 15, 2015	IDA-48400	Int Charges	32,592.95
Dec 16, 2015	IDA-48400	Int Charges	754.15
Dec 16, 2015	IDA-48400	Int Charges	754.15
Dec 16, 2015	IDA-48400	Int Charges	33,316.08
Dec 16, 2015	IDA-48400	Int Charges	33,316.08
Dec 19, 2013	IDA-48400	Int Charges	36,718.60
Dec 19, 2013	IDA-48400	Int Charges	36,718.60
Dec 19, 2013	IDA-48400	Int Charges	416.21
Dec 19, 2013	IDA-48400	Int Charges	416.21
Jun 15, 2014	IDA-48400	Int Charges	168.72
Jun 15, 2014	IDA-48400	Int Charges	168.72
Jun 15, 2014	IDA-48400	Int Charges	36,948.48
Jun 15, 2014	IDA-48400	Int Charges	36,948.48
Dec 16, 2010	IDA-48400	Loan Commitment	10,000,000.00
Jun 15, 2024	IDA-48400	Loan Repay	105,409.60
Jun 15, 2024	IDA-48400	Int Charges	29,120.47
Jun 15, 2024	IDA-48400	Int Charges	29,120.47
Jun 15, 2024	IDA-48400	Int Charges	3,109.49
Jun 15, 2024	IDA-48400	Int Charges	3,109.49
Dec 15, 2022	IDA-48400	Int Charges	25,142.35
Dec 15, 2022	IDA-48400	Int Charges	25,142.35
Jun 15, 2023	IDA-48400	Loan Repay	106,770.40
Jun 15, 2023	IDA-48400	Int Charges	30,429.56
Jun 15, 2023	IDA-48400	Int Charges	30,429.56
Jun 15, 2023	IDA-48400	Int Charges	5,615.43
Jun 15, 2023	IDA-48400	Int Charges	5,615.43
Dec 15, 2023	IDA-48400	Loan Repay	105,127.33
Dec 15, 2023	IDA-48400	Int Charges	27,003.60
Dec 15, 2023	IDA-48400	Int Charges	27,003.60
Dec 15, 2023	IDA-48400	Loan Repay	2,135.87
Jun 15, 2022	IDA-48400	Int Charges	2.21
Jun 15, 2022	IDA-48400	Int Charges	2.21
Jun 15, 2022	IDA-48400	Int Charges	31,164.59
Jun 15, 2022	IDA-48400	Int Charges	31,164.59
Jun 15, 2022	IDA-48400	Loan Repay	1,469.85
Dec 16, 2021	IDA-48400	Int Charges	33,128.10
Dec 16, 2021	IDA-48400	Int Charges	33,128.10
Dec 16, 2021	IDA-48400	Int Charges	1,072.29
Dec 16, 2021	IDA-48400	Int Charges	1,072.29
Dec 16, 2021	IDA-48400	Loan Repay	111,824.80
Dec 15, 2022	IDA-48400	Loan Repay	3,575.63
Dec 15, 2022	IDA-48400	Loan Repay	102,889.17
Jun 15, 2021	IDA-48400	Int Charges	643.47
Jun 15, 2021	IDA-48400	Int Charges	643.47
Jun 15, 2021	IDA-48400	Loan Repay	115,133.60
Jun 15, 2021	IDA-48400	Int Charges	33,436.06
Jun 15, 2021	IDA-48400	Int Charges	33,436.06
Jun 15, 2022	IDA-48400	Loan Repay	105,075.75
Jun 16, 2020	IDA-48400	Int Charges	320.55
Dec 15, 2020	IDA-48400	Int Charges	429.61
Dec 15, 2020	IDA-48400	Int Charges	429.61
Dec 15, 2020	IDA-48400	Int Charges	33,868.58
Dec 15, 2020	IDA-48400	Int Charges	33,868.58
Jun 15, 2019	IDA-48400	Int Charges	243.89
Jun 15, 2019	IDA-48400	Int Charges	32,956.03
Jun 15, 2019	IDA-48400	Int Charges	32,956.03
Dec 15, 2019	IDA-48400	Int Charges	20,000.00
Dec 15, 2019	IDA-48400	Int Charges	20,000.00
Dec 15, 2019	IDA-48400	Int Charges	172.31
Dec 15, 2019	IDA-48400	Int Charges	172.31
Dec 15, 2019	IDA-48400	Int Charges	12,725.20
Dec 15, 2019	IDA-48400	Int Charges	12,725.20
Jun 16, 2020	IDA-48400	Int Charges	320.55
Jun 16, 2020	IDA-48400	Int Charges	32,794.69
Jun 16, 2020	IDA-48400	Int Charges	32,794.69
Dec 15, 2018	IDA-48400	Int Charges	1,040.88
Dec 15, 2018	IDA-48400	Int Charges	1,040.88
Dec 26, 2018	IDA-48400	Int Charges	32,263.63
Dec 26, 2018	IDA-48400	Int Charges	32,263.63
Jun 15, 2019	IDA-48400	Int Charges	243.89
Jun 15, 2017	IDA-48400	Int Charges	933.05
Jun 15, 2017	IDA-48400	Int Charges	933.05
Jun 15, 2017	IDA-48400	Int Charges	31,673.09
Jun 15, 2017	IDA-48400	Int Charges	31,673.09
Dec 15, 2017	IDA-48400	Int Charges	579.72
Dec 15, 2017	IDA-48400	Int Charges	579.72
Dec 15, 2017	IDA-48400	Int Charges	33,937.44

Footnotes

Ratings

IMPLEMENTATION RATINGS

Name	Review	Date
Progress towards achievement of PDO	Moderately Satisfactory	2013-06-20
Monitoring and Evaluation	Moderately Satisfactory	2013-06-20
Program Management	Moderately Satisfactory	2013-06-20
Overall Implementation Progress (IP)	Satisfactory	2013-06-20

COMPLETION RATINGS

INDICATOR	IMPLEMENTATION COMPLETION & RESULTS REPORT: 06-21-2013
Outcomes	Moderately Satisfactory
Risk to Development Outcome	Modest
Bank Performance	Moderately Satisfactory
Borrower Performance	Moderately Satisfactory
Government Performance	Moderately Satisfactory
Implementing Agency	Moderately Satisfactory

INDEPENDENT EVALUATION RATINGS

INDICATOR	ICR REVIEW: 06-26-2015	PROJECT PERFORMANCE ASSESSMENT REPORT:
Outcome Rating	Moderately Satisfactory	N/a
Risk To Development Outcome	Moderate	N/a
Bank Performance	Moderately Satisfactory	N/a
Borrower Performance	Moderately Satisfactory	N/a
Government Performance	Satisfactory	N/a
Implementing Agency	Moderately Satisfactory	N/a
Icr Quality	Not Rated	N/a
M&e Quality	Modest	N/a

Results Framework

PROJECT DEVELOPMENT OBJECTIVE INDICATORS

INDICATOR		BASELINE	CURRENT	TARGET

INTERMEDIATE RESULTS INDICATORS

INDICATOR		BASELINE	CURRENT	TARGET

Unit revenues as measured by passenger seat-kilometer (ECV) Value 606.00 783.00 779.00
Date December 31, 2009 December 31, 2011 December 31, 2011
Comment
Direct operating costs, excluding fuel, per passenger seat-kilometer (ECV) Value 7.67 7.91 2.85
Date December 31, 2009 December 31, 2011 December 31, 2011
Comment
Renewable energy (as % of total power generated) Value 3.00 30.00 18.00
Date December 31, 2009 December 31, 2012 December 31, 2012
Comment
Power generation capacity (in megawatts) Value 86.00 84.00 110.00
Date December 31, 2009 December 31, 2012 December 31, 2012
Comment >110
Technical and non technical losses (as % of megawatts generated) Value 28.00 27.00 0.00
Date December 31, 2009 December 31, 2012
Comment
ELECTRA’s debt service coverage ratio Value 0.75 0.00 1.10
Date December 31, 2009 December 31, 2012
Comment
Number of Municipal Development Plans (PDMs) Value 1.00 14.00 22.00
Date December 31, 2009 December 31, 2012 December 31, 2012
Comment
Number of Regional Plans for Territorial Organization (EROTs) Value 0.00 7.00 10.00
Date December 31, 2009 December 31, 2011 December 31, 2011
Comment
Cost of property registration Value 7.60 3.70 4.00
Date December 31, 2010 December 31, 2012 December 31, 2012
Comment ≤4
Number of days to open a business Value 24.00 11.00 24.00
Date December 31, 2009 December 31, 2011 December 31, 2011
Comment ≤24
Marginal Tax Rates for businesses. Value 25.00 25.00 25.00
Date December 31, 2010 December 31, 2011 December 31, 2011
Comment
Net FDI flows (as % of GDP) Value 7.50 3.40 8.50
Date December 31, 2009 December 31, 2012 December 31, 2012
Comment
Number of students enrolled Value 4500.00 1500.00 6000.00
Date December 31, 2009 December 31, 2012 December 31, 2012
Comment
Number of institutions accredited by the Ministry of professional training / TVET System Value 0.00 22.00 22.00
Date December 31, 2009 December 31, 2011 December 31, 2011
Comment
% of project and program for which indicators are tracked by the M&E system. Value 80.00 100.00 100.00
Date December 31, 2010 December 31, 2012 December 31, 2012
Comment
Steps towards Implementation of the new career system/ adoption of system Value No No Yes
Date December 31, 2009 December 31, 2012 December 31, 2012
Comment
Number of municipalities included in the Municipal Information System Value 15.00 22.00 22.00
Date December 31, 2009 December 31, 2012 December 31, 2012
Comment
Number of ministries restructured Value 5.00 13.00 15.00
Date December 31, 2009 December 31, 2012 December 31, 2012
Comment
Number of staff at the Procurement Management Central Unit (UGAC) subject to prior review by DSCP Value 0.00 9.00 10.00
Date December 31, 2009 December 31, 2011 December 31, 2011
Comment
Number of staff trained under the strategic plan of Public Procurement Directorate (DSCP) capacity building Value 0.00 401.00 400.00
Date December 31, 2009 December 31, 2012 December 31, 2012
Comment
Number of municipalities, embassies and institutes audited by the court of auditors (TdC) Value 19.00 12.00 28.00
Date December 31, 2009 December 31, 2012 December 31, 2012
Comment
Number of years between budget execution and completion of audits Value 3.00 2.00 2.00
Date December 31, 2009 December 31, 2012 December 31, 2012
Comment
Remaining government arrears (% of total arrears assumed in 2005) Value 15.00 0.00 0.00
Date December 31, 2009 December 31, 2012 January 31, 2012
Comment
Weighted average (by assets) of capital adequacy ratio (Basel 1) of the entire system in %. Value 10.70 13.40 0.00
Date December 31, 2009 December 31, 2012
Comment

Unit revenues as measured by passenger seat-kilometer (ECV)	Value	606.00	783.00	779.00
	Date	December 31, 2009	December 31, 2011	December 31, 2011
	Comment

Direct operating costs, excluding fuel, per passenger seat-kilometer (ECV)	Value	7.67	7.91	2.85
	Date	December 31, 2009	December 31, 2011	December 31, 2011
	Comment

Renewable energy (as % of total power generated)	Value	3.00	30.00	18.00
	Date	December 31, 2009	December 31, 2012	December 31, 2012
	Comment

Power generation capacity (in megawatts)	Value	86.00	84.00	110.00
	Date	December 31, 2009	December 31, 2012	December 31, 2012
	Comment			>110

Technical and non technical losses (as % of megawatts generated)	Value	28.00	27.00	0.00
	Date	December 31, 2009	December 31, 2012
	Comment

ELECTRA’s debt service coverage ratio	Value	0.75	0.00	1.10
	Date	December 31, 2009		December 31, 2012
	Comment

Number of Municipal Development Plans (PDMs)	Value	1.00	14.00	22.00
	Date	December 31, 2009	December 31, 2012	December 31, 2012
	Comment

Cost of property registration	Value	7.60	3.70	4.00
	Date	December 31, 2010	December 31, 2012	December 31, 2012
	Comment			≤4

Number of days to open a business	Value	24.00	11.00	24.00
	Date	December 31, 2009	December 31, 2011	December 31, 2011
	Comment			≤24

Marginal Tax Rates for businesses.	Value	25.00	25.00	25.00
	Date	December 31, 2010	December 31, 2011	December 31, 2011
	Comment

Net FDI flows (as % of GDP)	Value	7.50	3.40	8.50
	Date	December 31, 2009	December 31, 2012	December 31, 2012
	Comment

Number of students enrolled	Value	4500.00	1500.00	6000.00
	Date	December 31, 2009	December 31, 2012	December 31, 2012
	Comment

% of project and program for which indicators are tracked by the M&E system.	Value	80.00	100.00	100.00
	Date	December 31, 2010	December 31, 2012	December 31, 2012
	Comment

Number of municipalities included in the Municipal Information System	Value	15.00	22.00	22.00
	Date	December 31, 2009	December 31, 2012	December 31, 2012
	Comment

Number of ministries restructured	Value	5.00	13.00	15.00
	Date	December 31, 2009	December 31, 2012	December 31, 2012
	Comment

Number of municipalities, embassies and institutes audited by the court of auditors (TdC)	Value	19.00	12.00	28.00
	Date	December 31, 2009	December 31, 2012	December 31, 2012
	Comment

Weighted average (by assets) of capital adequacy ratio (Basel 1) of the entire system in %.	Value	10.70	13.40	0.00
	Date	December 31, 2009	December 31, 2012
	Comment