Reference: 20180600
Release date: 27 September 2018

Promoter – Financial Intermediary

CABO VERDE TELECOM SA

Location

Description

The project concerns the promoter's investments in Cape Verde to increase the availability and quality of mobile and fixed high speed broadband services - based on 3G, 4G and Fiber to the x (FTTx) - as well as the construction and installation of a submarine cable branch to link Cape Verde to a Latin America to Europe submarine cable system.

Objectives

The project constitutes the next step in the development of the telecommunications infrastructure in Cape Verde. With the expansion of the mobile broadband and fiber networks, in addition to the necessary upgrade of the international connectivity, the telecommunications services in the country are expected to get closer to the international state-of-the-art standards.

Sector(s)

  • Telecom - Information and communication
  • Energy - Electricity, gas, steam and air conditioning supply

Proposed EIB finance (Approximate amount)

USD 25 million (EUR 22 million)

Total cost (Approximate amount)

USD 60 million (EUR 53 million)

Environmental aspects

If located in the EU, telecommunications projects including submarine cables would not fall under Annex I or II of the Directive 2014/52/EU amending the Environmental Impact Assessment Directive (EIA) 2011/92/EU. The EIB will require the project's compliance with the relevant environmental legislation and, in any case, the preparation of an Environmental and Social Impact Assessment (ESIA) at least for the submarine cable part of the project to ensure that appropriate mitigation measures are adopted.

Procurement

Implementation of the project will be done in line with EIB's Guide to Procurement.

Status

Signed - 10/04/2019

Disclaimer

Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The data provided on this page is therefore indicative and cannot be considered to represent official EIB policy (see also the Explanatory notes).

Related tags

Cape Verde Telecom Energy