Praia, Cape Verde, 4 Nov - Cape Verde has been given a higher assessment in an international evaluation of countries seeking access to funding from the Millennium Challenge Corporation, the archipelago’s Inforpress news agency reported.
Cape Verde’s positive assessment has been communicated to Foreign Minister Jose Brito by US Ambassador Marianne Myles and the MCC representative in the islands, Stalis Solomon Panagides.
The MCC assessment was made using indicators relating to governance, investment in citizens and the business environment - all of which were rated higher than average in the same category of middle-income countries.
Solomon Panagides and Marianne Myles said Cape Verde’s eligibility is the first condition it has to fulfill to compete for the 2nd MCC compact and the rating achieved by Praia opens the door to the possibility of a second tranche of assistance from the MCC program.
The US Congress must define the amount of funding available under the 2nd compact but Cape Verde plans to request more than the US$ 110 million granted under the 1st compact. The MCC board of directors will make the first decision on Cape Verde’s application for further funding at a meeting 9 Dec in Washington. (macauhub)
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