Chinese Government provides grant — via ETCA — for São Vicente Marine Special Economic Zone Planning Project

On December 14, 2013, China Road & Bridge Corporation (CRBC) met with Cape Verde's President and Prime Minister to discuss the possibility of building a deep water port at Mindelo on Porto Grande Bay as well as a cruise ship terminal, and the possibility of refurbishing Cabnave shipyard on São Vicente island.

On July 6, 2017, the Chinese Government and the Government of Cape Verde signed an Economic and Technical Cooperation Agreement (ETCA), which committed grant funding for the São Vicente Marine Special Economic Zone Planning Project. Then, on January 10 and 11, 2018, Chinese and Cape Verdean officials signed letters of exchange for this project.

Loan applications and disbursements are still being received and processed as the projects continue to evolve. Ongoing monitoring and evaluation are in place to ensure project continuity.