The United Nations played a vital role in forging significant development partnerships that helped advance the SDGs and leveraged financing for the 2030 Agenda in Cabo Verde.

SDG Financing: In partnership with the Cabo Verde Stock Exchange, the UN launched a sustainable finance platform (Blu-X) that raised over USD 26 million in capital markets to finance National Sustainable Development Initiatives as part of the Joint SDG Fund’s Joint Programme – INFF, led by UNDP with ILO and UNODC.

SDG advancement: Through a broad partnership leveraged by the UN, mainly from the FAO, WFP, ILO, and RCO, the Government extended social benefits to the most vulnerable families affected by the global food crisis. This initiative helped to prevent a large increase in poverty (SDG1) and food insecurity (SDG 2), ensuring coverage of the poorest and most vulnerable population in the country.

The UN contributed to the mobilization of resources, covering 4% of the country’s population, and helped the  Government leverage funds through International Financial Institutions (IFIs) such as the World Bank, International Monetary Fund (IMF), African Development Bank (AfDB), and bilateral development aid, totalling more than USD 100 million. This financing was sufficient to cover more than 20% of the country’s population directly benefited from the Government’s social protection instrument (CSU - Cadastro Social Único)  focused support.

South-South and Triangular partnerships: The UN also developed the capacity of public officials from the executive and legislative branches to deliver more effectively through public finance management and transparency enhancement, mainstreaming gender equity, fighting corruption, and promoting the 2030 Agenda. The UN is also developing the Governmental capacity to identify and propose a debt-for-nature swap.

Localizing the SDGs: Partnerships for localizing the SDGs between municipalities, Non-Governmental Organizations (NGOs), the private sector, and deconcentrated state institutions were sustained and strengthened. The UN facilitated this by building the capacity of local actors, developing local  mechanisms for participation and ownership of local development issues, and implementing local initiatives that responded to the most vulnerable people, especially those affected by the food security crisis.

Coordination and exchange mechanism: The UN also broadened and deepened the mechanism for coordination and exchange of information among international partners and IFIs supporting or interested in the country’s development during 2022. This was achieved by including more interested international partners, facilitating synergies through monthly meetings that zoomed into a specific theme.