- €34 million EU grant, managed by EIB Global, to finance more sustainable port infrastructure
- Joint EU-EIB investment to strengthen Cabo Verde’s maritime sector, cut emissions and boost connectivity
- Part of Cabo Verde Blue Economy Sustainable Ports Facility, a flagship Global Gateway initiative
The European Union (EU) and its bank, the European Investment Bank (EIB Global), have signed a 34 million euros investment grant to support the rehabilitation and expansion of Cabo Verde’s main ports and its main shipyard. This new grant complements 114 million euros in EIB financing signed in 2024 with the Republic of Cabo Verde. Together, the funding forms around 148 million euros on concessional financing package to enable strategic investments in port infrastructure.
These investments will enhance Cabo Verde’s maritime transport system, a critical lifeline for the island nation, while improving inter-island connectivity and reducing emissions across the archipelago. By upgrading port infrastructure and shipyard facilities, the project will support economic growth, sustainable tourism, and the country’s broader climate and development goals.
The programme includes the expansion of Porto Grande in Mindelo, with a new breakwater and quay, enlarged container handling capacity, and modernised infrastructure for cargo and fisheries. Environmental investments include the installation of onshore power supply at the Mindelo cruise terminal and solar energy systems across several ports. The programme supports the modernisation of Palmeira Port, enabling the reception of larger vessels, improved environmental management, and better conditions for the safe and efficient landing of fish, directly benefiting local fishers and the value chain. It also supports the expansion of “Porto Novo” Port to strengthen inter-island and international maritime connectivity. The rehabilitation of CABNAVE is in the pipeline, alongside potential port investments in 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 EIB Vice-President Ambroise Fayolle, who oversees the Bank’s operations in the country. “It shows how EIB Global and the European Union are working together to deliver lasting impact, improving connectivity and strengthening resilience across the islands.”
Sylvie Millot, the EU Ambassador to Cabo Verde said: “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, access to healthcare, educational services, and the country’s overall economic growth.”
“The blue economy, and ports in particular, are central pillars of this strategy, given their importance for connectivity, competitiveness, trade, tourism and Cabo Verde's integration into regional and global value chains. This funding demonstrates that we are talking about an economy with real growth potential, capable of participating actively and competitively in the global economic system. But above all, it demonstrates that our partners believe in our ability to transform investment into concrete results for people” said H.E. Olavo Correia, Deputy Prime Minister and Minister of Finance of Cabo Verde
The project is fully aligned 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 by the EU as a strategic link under Global Gateway. At national level, it contributes to Cabo Verde’s Strategic Plan for Sustainable Development (2022–2026), especially in improving blue economy infrastructure and supporting inclusive, climate‑resilient growth.
Through EU Global Gateway investments, of more than 400 million euros, the EU in Cabo Verde delivers high-impact projects that strengthen digital connectivity, accelerate the energy transition, and unlock the blue economy, positioning the country as a resilient regional hub through a long-term, trusted partnership with Europe.
Background information
About EIB Global
The European Investment Bank (ElB) is the long-term lending institution of the European Union, owned by its Member States. It finances investments that contribute to EU policy objectives.
EIB Global is the EIB Group’s specialised arm devoted to increasing the impact of international partnerships and development finance, and a key partner of Global Gateway. It aims to support €100 billion of investment by the end of 2027 – around one-third of the overall target of this EU initiative. Within Team Europe, EIB Global fosters strong, focused partnerships alongside fellow development finance institutions and civil society. EIB Global brings the EIB Group closer to people, companies and institutions through its offices across the world.
Photos of EIB headquarters for media use are available here.
About the Global Gateway
Global Gateway is the European initiative to boost smart, clean and secure links in digital, energy and transport sectors and to strengthen health, education and research systems across the world. Global Gateway aims to mobilise up to €300 billion in investments through a Team Europe approach, bringing together the EU, its Member States and their financial and development institutions. It seeks a transformational impact in the digital, climate and energy, transport, health, and education and research sectors.