Cape Verde and Portugal sign new cooperation agreement worth €70m

Portugal and Cape Verde Wednesday in Praia signed a cooperation agreement covering the next four years, worth 70 million euros, 10 percent of which is earmarked for direct budgetary aid.

The Indicative Cooperation Program (PIC)for the 2008-2011 period was signed by the Foreign Affairs minister, Victor Borges, and by the Portuguese secretary of state for Foreign Affairs, João Gomes Cravinho, who is due to end an official visit to Cape Verde Friday.

The last PIC for Cape Verde, which covered the last three years, was worth a total of 55 million euros.