China-Africa Development Fund eyes $250 million tourism project in Cape Verde
Wednesday, 01 June 2016 13:20
A delegation from the China-Africa Development Fund (CAD Fund) is presently in Cape Verde to study opportunities for investment in the country, Xinhua reports.
The delegation which should stay in Cape Verde till June 3 is meeting local entrepreneurs to discuss with them funding opportunities that the fund has to offer. However, attention will be centered on tourism projects. “Entrepreneurs can benefit from this fund. We have a pipeline of five or six projects, most of them in the tourism industry and this fund has declared tourism illegible,” said Julio Morais, president of Cape Verde’s agency for tourism and investments.
Among the concerned projects, well-positioned according to Julio Morais, is the Santa Maria tourism project. The project plans for the construction of major infrastructures of which an international conference center, a marina and a bridge.
The CAD Fund which has, so far, invested $3.2 billion in 84 projects in 36 African nations, is one of the main investment promotion instruments on the continent.
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