Cape Verde secures $66.2M MCC compact

After the success of its first compact with Cape Verde, the Millennium Challenge Corp. signed on Friday (Feb. 10) a second five-year agreement with the island country.

The $66.2 million compact covers two poverty-reduction projects. The first is a $41.1m water, sanitation and hygiene project with three activities:

  • National institutional and regulatory reform: The activity aims to improve planning systems and regulatory processes, and strengthen sustainable practices. Technical assistance will be provided.

  • Utility reform: Various utility departments will be restructured into independent companies.

  • Infrastructure grant: Grants will be given to finance improvements in WASH infrastructure.

The second is a $17.3M land management for investment project where necessary legal reform will be supported to create a common, more efficient system for land-related transactions and land administration.

Program administration costs are included in the compact as well.

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    Aimee Rae Ocampo

    As former Devex editor for business insight, Aimee created and managed multimedia content and cutting-edge analysis for executives in international development.