Programmatic Results:

Youth and Entrepreneurship

Over 1,700 young people had their entrepreneurial, participation, and public dialogue skills strengthened through various initiatives. Notably, 60 projects developed by young people with social impact were funded, co-funded, or established through partnerships. These projects spanned various domains, including blue economy.

To further strengthen the role of youth in the development process, the YouthConnekt Cabo Verde Platform was institutionalized as an instrument for the integration of youth policies and youth interaction. Additionally, 15 Digital Integration Centres were created and improved in different municipalities to facilitate access to information, connection, and participation of more vulnerable youth. In terms of strategies and instruments, Cabo Verde approved the “Porto Inglês Declaration” which reflects the demands and commitments of the Cabo Verdean youth. The country also elaborated legal regimes for the financing of Youth Associations and the Youth Card.

Industry, Agriculture, and Fisheries

The Gender Strategy for the Fisheries sector (2022-2025) was approved, and draft laws were developed for the integration of the ecosystem approach, voluntary guidelines, and co-management of fisheries. Furthermore, the country harmonized 91 standards with ECOWAS in four regional value chains, namely mango, cassava, textiles and clothing, and ICT.

Local Development

63 initiatives were implemented in the country’s 22 municipalities, benefiting 21,721 people (52% women) with better living conditions. To guide the territorial implementation of PEDS II  and the application of policies and the state budget in the municipalities, the Economic Specialization Matrix of the islands was elaborated and approved by the Council of Ministers.  The country also strengthened local management and monitoring capacities of the municipalities.

Financing of the SDGs

The Blu-X sustainable financing platform was launched and implemented, raising more than USD 26 million in capital markets. The country also established the operational “Negocia” digital market for entrepreneurship related to the SDGs. Additionally, a Guarantee Fund that supports and promotes investments of SMEs (small and medium-sized enterprises) led by young people and women was established.

Prosperity Pillar – Financial Overview

The Prosperity Pillar received a significant allocation of nearly US$5 million, which accounted for 24.5% of the total available funds. This amount covered 100% of the required funds for the Pillar, with an implementation rate of 83.4%. Among the available funds, the largest percentage, 20.8%, was allocated to advance SDG 1 in Cabo  Verde, followed by SDG 8 and SDG 2, with shares of 15.3% and 12.3%, respectively. The UN Core Funds were the primary financial source, providing 41.3% of the funds, followed by the Government of Luxembourg (34.4%),  GEF (12.7%), the Joint SDG Fund (6.2%), the Government of Korea (2%), AECID (1.6%), the European Union  (0.9%), and the Government of Cabo Verde (0.4%).