Cabo Verde DPO

Abstract*

This Development Policy Financing (DPF) series is structured around two interrelated pillars designed to: (i) reducing fiscal risks and (ii) It supports decisive and difficult reforms aimed at repositioning the role of the state in the economy while addressing the overarching binding constraint of connectivity, as identified in the 2018 Systematic Country Diagnostic (SCD). The first pillar focuses on reducing fiscal risks from SOEs while promoting... Show More

Development Objective

i) reducing fiscal risks from SOEs while improving service delivery in infrastructures; and ii) strengthening accountability and effectiveness in fiscal management.

Key Details

Project Details

Project ID
P165631
Status
Closed
Team Leader
Rohan Longmore , Christine Richaud, Kjetil Hansen
Borrower 2
Ministry of Finance

Country
Cabo Verde
Disclosure Date
May 31, 2018
Approval Date
(as of board presentation)
June 5, 2019
Effective Date
August 13, 2019

Total Project Cost 1
US$ 40.00 million
Implementing Agency
Ministry of Industry, Commerce, and Energy.
Region
Western and Central Africa
Fiscal Year 3
2019

Commitment Amount
US$ 40.00 million
Environmental Category
N/A
Environmental and Social Risk
Not Applicable
Closing Date
June 30, 2020

Last Stage Reached
BANK APPROVED
Last Update Date
October 31, 2023

Associated Projects
P171080

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 Policy22%
- FY17 - Fiscal sustainability11%
- FY17 - Tax policy11%

FY17 - Environment and Natural Resource Management

FY17 - Energy11%
- FY17 - Energy Policies & Reform11%

FY17 - Public Sector Management

FY17 - Public Administration44%
- FY17 - State-owned Enterprise Reform and Privatization33%
- FY17 - Transparency, Accountability and Good Governance11%
FY17 - Public Finance Management33%
- FY17 - Debt Management11%
- FY17 - Public Expenditure Management22%

Project Map

Interactive Map

Finances

Financing Plan (US$ Millions)

Financier	Commitments
IDA Credit	40.00

Total Project Financing (US$ Millions)

Product Line	IBRD/IDA
IBRD Commitment	N/A
IDA Commitment	40.00
IBRD + IDA Commitment	40.00

Lending Instrument
Grant Amount	N/A
Total Project Cost**	40.00

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

No data available.

Detailed Financial Activity as of March 31, 2025

Download:

Period	Financier	Transaction Type	Amount (US$)
Jun 15, 2024	IDA-64250	Int Charges	3,287.73
Jun 15, 2021	IDA-64250	Int Charges	154,803.19
Jun 15, 2024	IDA-64250	Int Charges	142,658.48
Jun 15, 2024	IDA-64250	Int Charges	142,658.48
Jun 5, 2019	IDA-64250	Loan Commitment	40,000,000.00
Jun 15, 2023	IDA-64250	Int Charges	5,902.73
Jun 15, 2023	IDA-64250	Int Charges	5,902.73
Jun 15, 2023	IDA-64250	Int Charges	144,640.53
Jun 15, 2023	IDA-64250	Int Charges	144,640.53
Dec 15, 2023	IDA-64250	Int Charges	139,711.14
Dec 15, 2023	IDA-64250	Int Charges	139,711.14
Dec 15, 2023	IDA-64250	Int Charges	2,251.44
Dec 15, 2023	IDA-64250	Int Charges	2,251.44
Jun 15, 2022	IDA-64250	Int Charges	142,799.75
Jun 15, 2022	IDA-64250	Int Charges	142,799.75
Jun 15, 2022	IDA-64250	Int Charges	1,536.24
Jun 15, 2022	IDA-64250	Int Charges	1,536.24
Dec 16, 2021	IDA-64250	Int Charges	151,487.66
Dec 16, 2021	IDA-64250	Int Charges	151,487.66
Dec 16, 2021	IDA-64250	Int Charges	1,133.33
Dec 16, 2021	IDA-64250	Int Charges	1,133.33
Dec 15, 2022	IDA-64250	Int Charges	3,747.61
Dec 15, 2022	IDA-64250	Int Charges	3,747.61
Dec 15, 2022	IDA-64250	Int Charges	134,593.08
Dec 15, 2022	IDA-64250	Int Charges	134,593.08
Aug 21, 2019	IDA-64250	Loan Disb	39,642,420.00
Dec 15, 2019	IDA-64250	Int Charges	94,083.48
Dec 15, 2019	IDA-64250	Int Charges	94,083.48
Jun 16, 2020	IDA-64250	Int Charges	916.72
Jun 16, 2020	IDA-64250	Int Charges	148,095.06
Jun 16, 2020	IDA-64250	Int Charges	148,095.06
Jun 16, 2020	IDA-64250	Int Charges	916.72
Dec 15, 2020	IDA-64250	Int Charges	1,933.19
Dec 15, 2020	IDA-64250	Int Charges	1,933.19
Dec 15, 2020	IDA-64250	Int Charges	152,937.92
Dec 15, 2020	IDA-64250	Int Charges	152,937.92
Jun 15, 2021	IDA-64250	Int Charges	2,905.57
Jun 15, 2021	IDA-64250	Int Charges	2,905.57
Jun 15, 2021	IDA-64250	Int Charges	154,803.19
Jun 15, 2024	IDA-64250	Int Charges	3,287.73

Footnotes

Ratings

IMPLEMENTATION RATINGS

Name	Review	Date
Progress towards achievement of PDO	Moderately Satisfactory	2020-06-12
Monitoring and Evaluation	Moderately Satisfactory	2020-06-12
Overall Implementation Progress (IP)	Moderately Satisfactory	2020-06-12
Program Management	Moderately Satisfactory	2020-06-12

COMPLETION RATINGS

INDICATOR	IMPLEMENTATION COMPLETION & RESULTS REPORT: 07-06-2022
Outcomes	Moderately Satisfactory
Risk to Development Outcome
Bank Performance	Moderately Satisfactory
Borrower Performance
Government Performance
Implementing Agency

INDEPENDENT EVALUATION RATINGS

INDICATOR	ICR REVIEW: 11-29-2022	PROJECT PERFORMANCE ASSESSMENT REPORT:
Outcome Rating	Moderately Unsatisfactory	N/a
Risk To Development Outcome		N/a
Bank Performance	Moderately Satisfactory	N/a
Borrower Performance		N/a
Government Performance	Not Rated	N/a
Implementing Agency		N/a
Icr Quality	Modest	N/a
M&e Quality		N/a

Results Framework

PROJECT DEVELOPMENT OBJECTIVE INDICATORS

INDICATOR		BASELINE	CURRENT	TARGET

INTERMEDIATE RESULTS INDICATORS

INDICATOR		BASELINE	CURRENT	TARGET

32 regular weekly frequencies by class-certified ships under a concession with private operator Value 7.00 27.00 32.00
Date December 31, 2017 December 31, 2021 December 31, 2021
Comment
Share of poor and extreme poor households enrolled in the energy social tariff Value 0.00 35.60 100.00
Date December 31, 2018 December 31, 2021 December 31, 2021
Comment
Successful implementation of government fiscal targets (fiscal primary balance as a share of GDP) Value -0.30 -11.10 0.40
Date December 31, 2018 December 31, 2021 December 31, 2021
Comment
Increased power generation from additional variable renewable energy facilities Value 0.00 40.80 30.00
Date December 31, 2018 December 31, 2021 December 31, 2021
Comment
Increase in number of additional audits completed by SAI under the new legal framework Value 0.00 23.00 5.00
Date December 31, 2018 December 31, 2021 December 31, 2021
Comment
Completion of all necessary reforms to obtain a largely compliant rating in the Global Forum peer-review process Value No Yes Yes
Date December 31, 2018 December 31, 2021 December 31, 2021
Comment
Streamlined tax expenditures (as evidenced by a decline in tax expenditures as a share of GDP) Value 4.50 7.00 4.00
Date December 31, 2018 December 31, 2021 December 31, 2021
Comment
Increased proportion of energy efficient labelled electrical equipment Value 0.00 48.00 30.00
Date December 31, 2018 December 31, 2021 December 31, 2021
Comment
Decline in central government financial support (transfers, subsidies, capitalization, and guarantee) to IFH Value 1.60 5.10 0.40
Date December 31, 2018 December 31, 2021 December 31, 2021
Comment
Wholesale price of international capacity (bandwidth price for 1 STM1 in euro/mbps/month) Value 775.00 45.14 599.00
Date December 31, 2018 December 31, 2021 December 31, 2021
Comment

32 regular weekly frequencies by class-certified ships under a concession with private operator	Value	7.00	27.00	32.00
	Date	December 31, 2017	December 31, 2021	December 31, 2021
	Comment

Share of poor and extreme poor households enrolled in the energy social tariff	Value	0.00	35.60	100.00
	Date	December 31, 2018	December 31, 2021	December 31, 2021
	Comment

Successful implementation of government fiscal targets (fiscal primary balance as a share of GDP)	Value	-0.30	-11.10	0.40
	Date	December 31, 2018	December 31, 2021	December 31, 2021
	Comment

Streamlined tax expenditures (as evidenced by a decline in tax expenditures as a share of GDP)	Value	4.50	7.00	4.00
	Date	December 31, 2018	December 31, 2021	December 31, 2021
	Comment

Decline in central government financial support (transfers, subsidies, capitalization, and guarantee) to IFH	Value	1.60	5.10	0.40
	Date	December 31, 2018	December 31, 2021	December 31, 2021
	Comment

Wholesale price of international capacity (bandwidth price for 1 STM1 in euro/mbps/month)	Value	775.00	45.14	599.00
	Date	December 31, 2018	December 31, 2021	December 31, 2021
	Comment