CV-DPL 3-PRSC VII

Abstract*

The development objectives of the Seventh Poverty Reduction Support Credit Program (PRSC VII)for Cape Verde are to (i) improve the efficiency and transparency in the use of public resources and preserve macroeconomic stability through the implementation of a reform agenda for public finance management, debt management, procurement, and government's statistical system; (ii) improve the qualification of the labor force through the institutional upgrading... Show More

Development Objective

The main development objectives of the proposed credit are to: (i) improve the efficiency and transparency in the use of public resources and preserve macroeconomic stability through the implementation of a reform agenda for public finance management, debt management, procurement, and the government’s statistical system; (ii) improve the qualifications of the labor force through the institutional upgrading of the vocational training system; (iii) enhance the country’s investment climate by simplifying procedures for closing firms and promoting a level playing field for private investors; and (iv) strengthen the performance of public utilities in the energy and air transportation sectors.

Key Details

Project Details

Project ID
P122669
Status
Closed
Team Leader
Fernando Blanco Cossio
Borrower 2
N/A

Country
Cabo Verde
Disclosure Date
October 25, 2011
Approval Date
(as of board presentation)
June 26, 2012
Effective Date
July 24, 2012

Total Project Cost 1
US$ 12.00 million
Implementing Agency
N/A
Region
Western and Central Africa
Fiscal Year 3
2012

Commitment Amount
US$ 12.00 million
Environmental Category
N/A
Environmental and Social Risk
Not Applicable
Closing Date
December 31, 2012

Last Stage Reached
BANK APPROVED
Parent Projects
P121812
Last Update Date
March 6, 2024

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 - Human Development and Gender

FY17 - Education12%
- FY17 - Access to Education3%
- FY17 - Science and Technology3%
- FY17 - Standards, Curriculum and Textbooks3%
- FY17 - Teachers3%

FY17 - Private Sector Development

FY17 - Business Enabling Environment30%
- FY17 - Regulation and Competition Policy30%
FY17 - Jobs7%
- FY17 - Job Creation7%

FY17 - Public Sector Management

FY17 - Data Development and Capacity Building10%
- FY17 - Data production, accessibility and use10%
FY17 - Public Administration15%
- FY17 - Transparency, Accountability and Good Governance15%
FY17 - Public Finance Management15%
- FY17 - Public Expenditure Management15%

FY17 - Urban and Rural Development

FY17 - Rural Development7%
- FY17 - Rural Infrastructure and service delivery7%
FY17 - Urban Development7%
- FY17 - Urban Infrastructure and Service Delivery7%

Project Map

Interactive Map

Finances

Financing Plan (US$ Millions)

Financier	Commitments
IDA Credit	12.00

Total Project Financing (US$ Millions)

Product Line	IBRD/IDA
IBRD Commitment	N/A
IDA Commitment	12.00
IBRD + IDA Commitment	12.00

Lending Instrument
Grant Amount	N/A
Total Project Cost**	12.00

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 19, 2013	IDA-50520	Int Charges	45,309.53
Jun 15, 2018	IDA-50520	Int Charges	21.39
Jun 15, 2018	IDA-50520	Int Charges	41,780.96
Jun 15, 2018	IDA-50520	Int Charges	41,780.96
Jun 15, 2017	IDA-50520	Int Charges	1,151.75
Jun 15, 2017	IDA-50520	Int Charges	1,151.75
Jun 15, 2017	IDA-50520	Int Charges	39,096.48
Jun 15, 2017	IDA-50520	Int Charges	39,096.48
Dec 15, 2016	IDA-50520	Int Charges	17.50
Dec 15, 2016	IDA-50520	Int Charges	17.50
Dec 15, 2016	IDA-50520	Int Charges	39,690.98
Dec 15, 2016	IDA-50520	Int Charges	39,690.98
Dec 16, 2015	IDA-50520	Int Charges	41,124.54
Jun 15, 2016	IDA-50520	Int Charges	901.30
Jun 15, 2016	IDA-50520	Int Charges	901.30
Jun 15, 2016	IDA-50520	Int Charges	40,739.31
Jun 15, 2016	IDA-50520	Int Charges	40,739.31
Jun 15, 2015	IDA-50520	Int Charges	431.54
Jun 15, 2015	IDA-50520	Int Charges	431.54
Jun 15, 2015	IDA-50520	Int Charges	40,232.04
Jun 15, 2015	IDA-50520	Int Charges	40,232.04
Dec 16, 2015	IDA-50520	Int Charges	930.88
Dec 16, 2015	IDA-50520	Int Charges	930.88
Dec 16, 2015	IDA-50520	Int Charges	41,124.54
Dec 15, 2014	IDA-50520	Int Charges	238.64
Dec 15, 2014	IDA-50520	Int Charges	238.64
Jun 15, 2014	IDA-50520	Int Charges	223.28
Jun 15, 2014	IDA-50520	Int Charges	223.28
Jun 15, 2014	IDA-50520	Int Charges	45,608.28
Jun 15, 2014	IDA-50520	Int Charges	45,608.28
Dec 16, 2014	IDA-50520	Int Charges	43,303.40
Dec 16, 2014	IDA-50520	Int Charges	43,303.40
Jun 15, 2021	IDA-50520	Int Charges	794.29
Jun 15, 2021	IDA-50520	Int Charges	42,316.43
Jun 15, 2021	IDA-50520	Int Charges	42,316.43
Dec 15, 2020	IDA-50520	Int Charges	530.30
Dec 15, 2020	IDA-50520	Int Charges	530.30
Dec 15, 2020	IDA-50520	Int Charges	41,806.52
Dec 15, 2020	IDA-50520	Int Charges	41,806.52
Dec 15, 2019	IDA-50520	Int Charges	212.71
Dec 15, 2019	IDA-50520	Int Charges	212.71
Dec 15, 2019	IDA-50520	Int Charges	40,395.16
Dec 15, 2019	IDA-50520	Int Charges	40,395.16
Jun 16, 2020	IDA-50520	Int Charges	40,480.95
Jun 16, 2020	IDA-50520	Int Charges	40,480.95
Jun 16, 2020	IDA-50520	Int Charges	395.67
Jun 16, 2020	IDA-50520	Int Charges	395.67
Jun 15, 2019	IDA-50520	Int Charges	301.07
Jun 15, 2019	IDA-50520	Int Charges	40,680.08
Jun 15, 2019	IDA-50520	Int Charges	40,680.08
Jun 15, 2019	IDA-50520	Int Charges	301.07
Dec 15, 2018	IDA-50520	Int Charges	1,284.85
Dec 15, 2018	IDA-50520	Int Charges	1,284.85
Dec 26, 2018	IDA-50520	Int Charges	39,825.40
Dec 26, 2018	IDA-50520	Int Charges	39,825.40
Dec 15, 2017	IDA-50520	Int Charges	715.57
Dec 15, 2017	IDA-50520	Int Charges	715.57
Dec 15, 2017	IDA-50520	Int Charges	41,891.53
Dec 15, 2017	IDA-50520	Int Charges	41,891.53
Jun 15, 2018	IDA-50520	Int Charges	21.39
Jun 15, 2024	IDA-50520	Int Charges	37,725.63
Jun 15, 2024	IDA-50520	Int Charges	37,725.63
Jun 15, 2024	IDA-50520	Int Charges	3,277.33
Jun 15, 2024	IDA-50520	Int Charges	3,277.33
Jun 26, 2012	IDA-50520	Loan Commitment	12,000,000.00
Jun 15, 2024	IDA-50520	Loan Repay	104,091.98
Jun 15, 2023	IDA-50520	Int Charges	5,916.36
Jun 15, 2023	IDA-50520	Int Charges	5,916.36
Jun 15, 2023	IDA-50520	Loan Repay	105,435.77
Jun 15, 2023	IDA-50520	Int Charges	39,142.99
Jun 15, 2023	IDA-50520	Int Charges	39,142.99
Dec 15, 2023	IDA-50520	Loan Repay	2,250.72
Dec 15, 2023	IDA-50520	Loan Repay	103,671.69
Dec 15, 2023	IDA-50520	Int Charges	35,591.53
Dec 15, 2023	IDA-50520	Int Charges	35,591.53
Dec 16, 2021	IDA-50520	Int Charges	309.81
Dec 16, 2021	IDA-50520	Int Charges	309.81
Dec 16, 2021	IDA-50520	Int Charges	41,410.12
Dec 16, 2021	IDA-50520	Int Charges	41,410.12
Dec 15, 2022	IDA-50520	Int Charges	33,525.82
Dec 15, 2022	IDA-50520	Loan Repay	1,024.43
Dec 15, 2022	IDA-50520	Loan Repay	104,109.56
Dec 15, 2022	IDA-50520	Int Charges	33,525.82
Jun 15, 2022	IDA-50520	Int Charges	419.94
Jun 15, 2022	IDA-50520	Int Charges	419.94
Jun 15, 2022	IDA-50520	Int Charges	39,035.23
Jun 15, 2022	IDA-50520	Int Charges	39,035.23
Jun 15, 2021	IDA-50520	Int Charges	794.29
Dec 19, 2013	IDA-50520	Int Charges	513.74
Dec 19, 2013	IDA-50520	Int Charges	513.74
Dec 19, 2013	IDA-50520	Int Charges	45,309.53

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
Overall Implementation Progress (IP)	Moderately Satisfactory	2013-06-20
Program Management	Moderately 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

Remaining government arrears (percent of total arrears assumed in 2005) Value 15.00 0.00 0.00
Date December 31, 2009 December 31, 2012 December 31, 2012
Comment
Number of years to submit the General Accounts of the State to the Court of Accounts Value 3.00 1.00 1.00
Date December 31, 2009 December 31, 2012 December 31, 2012
Comment <1 <1
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
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 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 audits prepared by the Regulatory Agency for Public Acquisitions (ARAP) Value 0.00 10.00 10.00
Date December 31, 2009 December 31, 2012 December 31, 2012
Comment >10 >10
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 included in the Municipal Information System Value 15.00 22.00 22.00
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 0.00 100.00 100.00
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
Number of students enrolled Value 4500.00 1500.00 6000.00
Date December 31, 2009 December 31, 2012 December 31, 2012
Comment
Net FDI flows (as percent of GDP) Value 7.50 3.40 8.50
Date December 31, 2009 December 31, 2012 December 31, 2012
Comment
New tax incentive system adopted Value No Yes Yes
Date December 31, 2010 December 31, 2012 December 31, 2012
Comment
Weighted average by assets of the capital adequacy ratio (Basel 1) of banks (percent). Value 10.70 13.40 12.00
Date December 31, 2009 December 31, 2012 December 31, 2012
Comment >12
Average number of years to close a business Value 0.00 0.00 2.00
Date December 31, 2009 December 31, 2012 December 31, 2012
Comment ≤2
Recovery rate by claimants (creditors, employees, govt.) from insolvent firms (cents per dollar owed) Value 0.00 0.00 40.00
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, 2009 December 31, 2012 December 31, 2012
Comment ≤4.0
Number of Regional Plans for Territorial Organization (EROT) homologated (cumulative) Value 1.00 7.00 10.00
Date December 31, 2009 December 31, 2011 December 31, 2011
Comment
Number of Municipal Development Plans (PDMs) homologated (cumulative) Value 1.00 14.00 22.00
Date December 31, 2009 December 31, 2012 December 31, 2012
Comment
ELECTRA’s debt service coverage ratio Value 0.70 0.00 1.10
Date December 31, 2009 December 31, 2012
Comment
Technical and non technical losses (as percent of megawatts generated) Value 26.50 27.00 25.00
Date December 31, 2010 December 31, 2011 December 31, 2012
Comment <25
Power generation capacity (in megawatts) Value 90.00 84.00 110.00
Date December 31, 2009 December 31, 2012 December 31, 2012
Comment >110
Renewable energy (as percent of total power generated) Value 3.00 30.00 18.00
Date December 31, 2010 December 31, 2012 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
Yield as measured by passenger -kilometer (ECV) Value 7.23 0.00 8.20
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

Remaining government arrears (percent of total arrears assumed in 2005)	Value	15.00	0.00	0.00
	Date	December 31, 2009	December 31, 2012	December 31, 2012
	Comment

Number of years to submit the General Accounts of the State to the Court of Accounts	Value	3.00	1.00	1.00
	Date	December 31, 2009	December 31, 2012	December 31, 2012
	Comment		<1	<1

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 ministries restructured	Value	5.00	13.00	15.00
	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

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

New tax incentive system adopted	Value	No	Yes	Yes
	Date	December 31, 2010	December 31, 2012	December 31, 2012
	Comment

Weighted average by assets of the capital adequacy ratio (Basel 1) of banks (percent).	Value	10.70	13.40	12.00
	Date	December 31, 2009	December 31, 2012	December 31, 2012
	Comment			>12

Cost of property registration	Value	7.60	3.70	4.00
	Date	December 31, 2009	December 31, 2012	December 31, 2012
	Comment			≤4.0

ELECTRA’s debt service coverage ratio	Value	0.70	0.00	1.10
	Date	December 31, 2009		December 31, 2012
	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

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

Technical and non technical losses (as percent of megawatts generated)	Value	26.50	27.00	25.00
	Date	December 31, 2010	December 31, 2011	December 31, 2012
	Comment			<25

Power generation capacity (in megawatts)	Value	90.00	84.00	110.00
	Date	December 31, 2009	December 31, 2012	December 31, 2012
	Comment			>110

Yield as measured by passenger -kilometer (ECV)	Value	7.23	0.00	8.20
	Date	December 31, 2009		December 31, 2012
	Comment