Chinese Government provides CVE 82 million interest-free loan for Achada Monte Secondary School Construction Project (Linked to Record ID#371)

Chinese Government provides CVE 82 million interest-free loan for Achada Monte Secondary School Construction Project In 2007, the Chinese Government and the Government of Cape Verde reportedly signed an Economic and Technical Cooperation Agreement (ETCA), which committed an RMB 30 million interest-free loan for multiple projects (see Record ID#371).

The Government of Cape Verde reportedly drew upon the proceeds of this loan to fully finance the Achada Monte School Construction Project at a cost of CVE 82 million. 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.