Washington, DC (February 22, 2024) - The U.S. Government’s Millennium Challenge Corporation (MCC) CEO Alice Albright departed from Cabo Verde this afternoon after a visit to kick off the development of an MCC regional compact.
“Cabo Verde was one of MCC’s very first partners and continues to demonstrate how well governed democracies deliver accountability, invest in their people, promote stability, and uphold the rule of law,” said Albright. “As a gateway to Africa and beyond, opportunities abound for Cabo Verde to capitalize on its unique strengths and further strengthen regional integration and trade. MCC is proud to work with such a committed partner and friend of the United States.”
During her visit, Albright met with the President of Cabo Verde José Maria Neves, Prime Minister Ulisses Correia e Sliva, and top government officials to discuss steps to advance the regional compact. She toured prior MCC-funded project sites at the Port of Praia and the Águas de Ponta Preta Wastewater Treatment Plant, and visited a tech park to learn about opportunities for digital transformation.
Cabo Verde’s initial $110 million compact, which closed in 2010, included the construction of several new roads and bridges and expanded and modernized the Port of Praia, which boosted its competitiveness by decreasing cargo processing times and shipping costs. The country’s subsequent $66 million compact, which concluded in 2017, improved access to clean water and sanitation, strengthened land rights, and facilitated ambitious policy and institutional reforms to improve the country’s overall investment climate.
In December 2023, MCC’s Board selected Cabo Verde as eligible to develop a regional compact in recognition of our prior partnerships, our shared values, our commitment to democratic governance, and the significant opportunity to work together on an impactful regional program. Read more here.
The Millennium Challenge Corporation is an independent U.S. government development agency working to reduce global poverty through economic growth. Created in 2004, MCC provides time-limited grants that pair investments in infrastructure with policy and institutional reforms to countries that meet rigorous standards for good governance, fighting corruption and respecting democratic rights.