23 August 2019

The European Investment Bank, Luxembourg

The European Investment Bank (EIB) has agreed to provide US$25m for the construction of a new telecom connection that will enable 4G mobile services and improve international connections to Cape Verde.

It forms part of the EIB’s commitment to supporting small island states around the world.

Furthermore, it comes at a time when the country’s existing communications rely on a single submarine cable that is reaching the end of its operational life.

Connection to the EllaLink cable, to be financed by the new EIB loan, will unlock a wide range of opportunities for the west African islands.

The EIB has supported investment in Cape Verde since 1979, with nearly €150m in financing to date.