The crisis in Ukraine against the background of the climate crisis has had several impacts on Cape Verde. Faced with this, the country is trying to put economic resilience at the heart of its development strategy. It has thus benefited from the support of its international partners. A press release announced that $52.5 million in funding was approved by the Board of Directors of the World Bank on 17 November.

To help Cape Verde recover from the external shocks caused by the crisis in Ukraine, the World Bank (WB) granted it $52.5 million. Indeed, these funds aim to support resilience to the consequences of the war in Ukraine, but especially resilience to climate shocks. As a result, approximately $42.5 million will be disbursed as budget support, while a $10 million “deferred disaster draw option” (Cat DDO) will also be available and can be disbursed quickly to respond to a natural disaster.

According to Eneida Fernandes, WB Resident Representative for Cape Verde, “As Cape Verde is recovering from multiple crises — the COVID-19 pandemic, five consecutive years of drought and the crisis in Ukraine — and is using this moment to embark on an ambitious reform program, this operation supports political action aimed at & agrave; lay the foundations for economic recovery by reducing fiscal risks and improving debt transparency, strengthening the resilience of poor and vulnerable households to climate-related shocks, and enabling a climate-resilient and sustainable private sector-led recovery.”