Cabo Verde is highly vulnerable to external shocks linked to climate change and global crises, but looks to its vast Exclusive Economic Zone as a possibility for reducing poverty and sparking economic growth. The project aims at unleashing the potential of economic activities centered around the marine environment, in Cabo Verde. To this end, the programme will act as an accelerator and engine of socio-economic inclusion for poor coastal communities in the island of Santiago, Cabo Verde, focusing especially on women and youth. Its objectives are to increase the income of youth and women in the pilot coastal communities by improving their access to innovation, decent jobs, markets, services and finance; and, to foster investments to finance blue economy income-generating projects.
To achieve this, the project will bring together the UN System knowledge and expertise, as well its capacity as a convening power to connect the different stakeholders of the blue economy, from poor coastal communities to international investors, from local private sector to relevant ministries and public agencies, and to provide the skills and equipment needed to enhance socioeconomic inclusion in a thriving, sustainable and just blue economy. The capacities, equipment and networks installed will allow for the emergence of new business models in pilot coastal communities with a higher value added; a better organization of value chains, including access to markets; and improved access to credit and investment for producers and small businesses, leveraging new sources of finance such as impact investment and through the diaspora.
FAO, UNIDO, UNDP, IOM
Ministry of Finance; Ministry of Sea; Ministry of Foreigners Affairs, Cooperation and Regional Integration; Ministry of Communities; Municipalities of Santiago, Cape Verdean Institute for Gender Equality and Equity; Cabo Verde Trade Invest