EU and EIB Global sign €34 million grant to support sustainable ports in Cabo Verde

The European Union and the European Investment Bank’s development arm, EIB Global, have signed a €34 million investment grant to support the rehabilitation and expansion of Cabo Verde’s main ports and its principal shipyard under the Global Gateway initiative.

The grant complements €114 million in EIB financing signed in 2024 with the Republic of Cabo Verde, bringing the total concessional financing package to around €148 million. The funding is aimed at enabling strategic investments in port infrastructure critical to the island nation’s connectivity and economic development.

The programme is expected to strengthen Cabo Verde’s maritime transport system, a vital lifeline for inter-island trade and mobility, while improving logistics efficiency and reducing emissions across the archipelago. By upgrading port and shipyard facilities, the initiative will support economic growth, sustainable tourism and the country’s broader climate and development objectives.

Planned investments include the expansion of Porto Grande in Mindelo, featuring a new breakwater and quay, increased container handling capacity, and modernised cargo and fisheries infrastructure. Environmental measures will include the installation of onshore power supply at the Mindelo cruise terminal and solar energy systems across several ports.

The programme also supports the modernisation of Palmeira Port to accommodate larger vessels, improve environmental management and enhance conditions for the safe and efficient landing of fish, directly benefiting local fishers and the wider value chain. In addition, the expansion of Porto Novo Port will strengthen both inter-island and international maritime connectivity. Rehabilitation of the CABNAVE shipyard is planned, alongside potential future investments at the port of Praia.

“This investment for sustainable ports will transform how Cabo Verde connects its islands, serves its communities, and trades with the world,” said Ambroise Fayolle, Vice-President of the European Investment Bank. “It shows how EIB Global and the European Union are working together to deliver lasting impact, improving connectivity and strengthening resilience across the islands.”

“This strategic investment is modernising key ports and the country’s main shipyard, strengthening inter-island connectivity — a true lifeline for the Cabo Verdean population — while promoting territorial and social cohesion and overall economic growth,” said Sylvie Millot, EU Ambassador to Cabo Verde.

Olavo Correia, Deputy Prime Minister and Minister of Finance of Cabo Verde, said the initiative highlights the central role of the blue economy in the country’s development strategy. He noted that ports are critical to connectivity, competitiveness, trade and tourism, and that the funding demonstrates confidence in Cabo Verde’s ability to turn investment into tangible benefits for its population.

The project aligns with the EU–Cabo Verde Multiannual Indicative Programme 2021–2027 and the Team Europe initiative “To Green Cabo Verde”. It also supports the Praia–Dakar–Abidjan multimodal corridor identified as a strategic link under Global Gateway, while contributing to Cabo Verde’s Strategic Plan for Sustainable Development (2022–2026).

Through Global Gateway investments exceeding €400 million, the EU continues to deliver high-impact projects in Cabo Verde across digital connectivity, energy transition and the blue economy, positioning the country as a resilient regional hub through a long-term partnership with Europe.

The post EU and EIB Global sign €34 million grant to support sustainable ports in Cabo Verde appeared first on Container News.