| Financier | Commitments |
|---|---|
| IDA Credit | 40.00 |
| PROBLUE MDTF | 5.00 |
Resilient Tourism and Blue Economy Development in Cabo Verde Project
Abstract*
The development objective of the Resilient Tourism and Blue Economy Development in Cabo Verde Project for Cabo Verde is to increase diversity and resiliency in the tourism offering and small and medium enterprise (SME) participation in tourism-related value chains in targeted destinations. The project comprises of four components. The first component, development of integrated and resilient tourism and blue economy infrastructure consists of subprojects... Show More
Development Objective
To increase diversity and resiliency in the tourism offering and small and medium enterprise (SME) participation in tourism-related value chains in targeted destinations.
Key Details
Project Details
P176981
Active
Antonio Baptista , Veruschka Schmidt, Philippe Neves
Republic of Cabo Verde
October 21, 2021
(as of board presentation)
May 31, 2022
June 6, 2022
US$ 35.00 million
Ministry of Tourism and Transports,Ministry of Finance and Business Development,Ministry of Culture and Creative Industries and Ministry of the Sea,Ministry of Infrastructure,Territorial Planning and Housing
2022
US$ 45.00 million
N/A
May 24, 2024
June 30, 2028
Yes
BANK APPROVED
Finances
Financing Plan (US$ Millions)
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 | 5.00 |
| Total Project Cost** | 35.00 |
Summary Status of World Bank Financing (US$ Millions) as of March 31, 2025
No data available.
| Period | Financier | Transaction Type | Amount (US$) |
|---|---|---|---|
| May 31, 2022 | IDA-71260 | Loan Commitment | 30,000,000.00 |
| May 15, 2024 | IDA-71260 | Int Charges | 30,650.33 |
| Apr 30, 2024 | IDA-75370 | Loan Commitment | 30,000,000.00 |
| May 15, 2024 | IDA-71260 | Int Charges | 101.60 |
| May 15, 2024 | IDA-71260 | Int Charges | 101.60 |
| May 15, 2024 | IDA-72720 | Int Charges | 13,026.66 |
| May 15, 2024 | IDA-72720 | Int Charges | 13,026.66 |
| May 15, 2024 | IDA-72720 | Int Charges | 63.28 |
| May 15, 2024 | IDA-72720 | Int Charges | 63.28 |
| Mar 29, 2024 | IDA-71260 | Loan Disb | 185,113.30 |
| Mar 12, 2024 | IDA-71260 | Loan Disb | 164,688.81 |
| Mar 12, 2024 | IDA-71260 | Loan Disb | 157,875.40 |
| Mar 29, 2024 | IDA-71260 | Loan Disb | 28,509.62 |
| Mar 12, 2024 | IDA-71260 | Loan Disb | 81,772.86 |
| Jun 13, 2023 | IDA-72720 | Loan Disb | 3,500,000.00 |
| Mar 10, 2023 | IDA-72720 | Loan Commitment | 10,000,000.00 |
| May 15, 2024 | IDA-71260 | Int Charges | 30,650.33 |
| Jan 25, 2023 | IDA-71260 | Loan Disb | 32,595.00 |
| Feb 3, 2023 | IDA-71260 | Loan Disb | 39,252.29 |
| Jan 30, 2023 | IDA-71260 | Loan Disb | 32,691.00 |
| Jan 30, 2023 | IDA-71260 | Loan Disb | 173,430.56 |
| Dec 8, 2022 | IDA-71260 | Loan Disb | 48,017.55 |
| Sep 15, 2022 | IDA-71260 | Loan Disb | 99,999.99 |
| Dec 30, 2022 | IDA-71260 | Loan Disb | 194,096.05 |
| Aug 21, 2023 | IDA-71260 | Loan Disb | 3,390,521.00 |
| Jan 26, 2023 | IDA-71260 | Loan Disb | 2,400,000.00 |
| Feb 17, 2023 | IDA-71260 | Loan Disb | 140,664.60 |
| May 15, 2023 | IDA-71260 | Int Charges | 129.61 |
| May 15, 2023 | IDA-71260 | Int Charges | 129.61 |
| May 15, 2023 | IDA-71260 | Int Charges | 7,310.05 |
| May 15, 2023 | IDA-71260 | Int Charges | 7,310.05 |
| May 15, 2023 | IDA-71260 | Loan Disb | 17,886.88 |
| Nov 27, 2023 | IDA-71260 | Loan Disb | 55,536.68 |
| Dec 4, 2023 | IDA-71260 | Loan Disb | 904,809.10 |
| Dec 21, 2023 | IDA-71260 | Loan Disb | 45,602.21 |
| Dec 21, 2023 | IDA-71260 | Loan Disb | 52,500.53 |
| Nov 15, 2023 | IDA-72720 | Int Charges | 10,962.04 |
| Nov 15, 2023 | IDA-72720 | Int Charges | 10,962.04 |
| Nov 15, 2023 | IDA-71260 | Int Charges | 17,539.67 |
| Nov 15, 2023 | IDA-71260 | Int Charges | 17,539.67 |
| Nov 15, 2023 | IDA-71260 | Int Charges | 63.05 |
| Nov 15, 2023 | IDA-71260 | Int Charges | 63.05 |
| Nov 28, 2023 | IDA-71260 | Loan Disb | 18,756.03 |
| Nov 28, 2023 | IDA-71260 | Loan Disb | 66,452.57 |
| Nov 28, 2023 | IDA-71260 | Loan Disb | 111,017.98 |
| Nov 28, 2023 | IDA-71260 | Loan Disb | 349,573.20 |
| Nov 28, 2023 | IDA-71260 | Loan Disb | 25,716.26 |
| Nov 28, 2023 | IDA-71260 | Loan Disb | 34,928.68 |
Ratings
IMPLEMENTATION RATINGS
| Name | Review | Date |
|---|---|---|
| Overall Implementation Progress (IP) | Moderately Satisfactory | 2025-01-28 |
| Progress towards achievement of PDO | Satisfactory | 2025-01-28 |
| Financial Management | Satisfactory | 2025-01-28 |
| Monitoring and Evaluation | Satisfactory | 2025-01-28 |
| Procurement | Moderately Satisfactory | 2025-01-28 |
| Project Management | Satisfactory | 2025-01-28 |
COMPLETION RATINGS
No data available.
INDEPENDENT EVALUATION RATINGS
No data available.
Results Framework
PROJECT DEVELOPMENT OBJECTIVE INDICATORS
| INDICATOR | BASELINE | CURRENT | TARGET |
|---|
Increase in average daily tourist spending at destination islands Value 0.00 0.00 17.00 Date June 30, 2023 March 31, 2024 June 30, 2028 Comment Share of beneficiary SMEs with new or expanded contracts to the hospitality value chain (disaggregated by gender and sector) Value 0.00 0.00 60.00 Date March 25, 2022 March 31, 2024 June 30, 2028 Comment Infrastructure rehabilitated, upgraded or established integrating climate resilience practices Value 0.00 0.00 23.00 Date March 25, 2022 March 31, 2024 June 30, 2028 Comment Increase in total tourist overnight stay in destination islands Value 0.00 0.00 24.00 Date March 25, 2022 March 31, 2024 June 30, 2028 Comment
INTERMEDIATE RESULTS INDICATORS
| INDICATOR | BASELINE | CURRENT | TARGET |
|---|
Share of local tourism and other ocean-economy value chain beneficiaries satisfied with the project interventions (disaggregated by gender) Value 0.00 0.00 65.00 Date March 31, 2023 March 31, 2024 June 30, 2028 Comment Roads rehablitated Value 0.00 0.00 14.60 Date March 25, 2022 March 31, 2024 June 30, 2028 Comment Share of fish from fisheries under improved management, landed or handled according to improved practices at project-supported sites Value 0.00 0.00 80.00 Date March 25, 2022 March 31, 2024 June 30, 2028 Comment SMEs with improved access to finance supported by the project Value 0.00 0.00 200.00 Date March 25, 2022 March 31, 2024 June 30, 2028 Comment Beneficiary SMEs adopting climate smart practices (disaggregated by gender) Value 0.00 0.00 30.00 Date March 25, 2022 March 31, 2024 June 30, 2028 Comment Policies or legal instruments that integrate blue economy principles and climate change adaptation measures drafted and submitted to Cabinet Value 0.00 1.00 9.00 Date March 25, 2022 March 31, 2024 June 30, 2028 Comment Action Plan for Gender Mainstreaming in Tourism is updated and adopted, including GBV standard guidelines Value No No Yes Date March 25, 2022 March 31, 2024 June 30, 2028 Comment Women-owned/ managed SMEs with improved access to finance supported by the project Value 0.00 0.00 10.00 Date Comment