EU and EIB Commit €148M to Transform Cabo Verde’s Ports and Shipyard Under Global Gateway Push

The European Union (EU) and EIB Global, the development arm of the European Investment Bank, have signed a €34 million investment grant to support the rehabilitation and expansion of Cabo Verde's main ports and national shipyard, marking a major milestone in the country's transition toward climate-resilient, low-carbon maritime infrastructure.

The new grant complements €114 million in EIB financing signed in 2024, bringing the total concessional financing package to approximately €148 million. Together, the funds will enable strategic investments across the archipelago's port network—an essential lifeline for Cabo Verde's economy, connectivity, and social cohesion.

Ports as the Backbone of an Island Economy

As an island nation, Cabo Verde depends on maritime transport for trade, mobility, food security, healthcare access, and tourism. The investment programme aims to modernise port infrastructure while reducing emissions, improving logistics efficiency, and strengthening inter-island and international connectivity.

"These sustainable port investments will transform how Cabo Verde connects its islands, serves its communities, and trades with the world," said Ambroise Fayolle, EIB Vice-President. "They demonstrate how EIB Global and the European Union are delivering long-term impact by strengthening resilience and connectivity across the archipelago."

Key Infrastructure and Green Upgrades

The programme includes a series of high-impact upgrades across the country's main maritime assets:

• Porto Grande (Mindelo): construction of a new breakwater and quay, expanded container handling capacity, and modernised cargo and fisheries infrastructure

• Environmental investments: installation of onshore power supply at the Mindelo cruise terminal and solar energy systems across several ports to reduce emissions

• Palmeira Port: modernisation to accommodate larger vessels, improve environmental management, and ensure safer, more efficient fish landings—directly benefiting local fishers and the wider value chain

• Porto Novo: expansion to strengthen inter-island and international maritime connectivity

• CABNAVE shipyard: rehabilitation in the pipeline to support vessel maintenance, maritime jobs, and regional service capacity

• Praia Port: additional potential investments under consideration

Boosting the Blue Economy and Inclusive Growth

The investment strongly supports Cabo Verde's blue economy strategy, reinforcing the role of ports in trade, tourism, fisheries, and regional integration.

"The blue economy—and ports in particular—are central pillars of our development strategy," said H.E. Olavo Correia, Deputy Prime Minister and Minister of Finance of Cabo Verde. "This funding shows that our partners believe in our capacity to turn investment into tangible results for people and to compete actively in global value chains."

Sylvie Millot, EU Ambassador to Cabo Verde, highlighted the social dimension of the programme:"This strategic investment modernises key ports and the country's main shipyard while strengthening inter-island connectivity—a true lifeline for the population—supporting territorial cohesion, access to healthcare and education, and sustainable economic growth."

Aligned with Global Gateway and Climate Goals

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 Global Gateway link connecting West Africa and Atlantic trade routes.

At national level, the investments advance Cabo Verde's Strategic Plan for Sustainable Development (2022–2026), particularly in strengthening climate-resilient infrastructure and inclusive growth.

Through Global Gateway investments exceeding €400 million, the EU is supporting Cabo Verde across digital connectivity, clean energy, and the blue economy, positioning the country as a resilient regional maritime hub built on a long-term, trusted partnership with Europe.