The Millennium Challenge Account is a development program financed by the government of the United States of America and run through the Millennium Challenge Corporation. Cape Verde, one of the first countries to qualify for the program’s benefits, signed a financing accord worth US$ 110 million on July 4 of last year.

The funds are aimed at increasing agricultural productivity in the hydrographic basins of Fajã (São Nicolau), Mosteiros (Fogo) and Paúl (Santo Antão), increasing the integration of domestic markets and reducing transportation costs. The Millennium Challenge Account program also intends to develop conditions that will stimulate greater competitiveness on the part of private domestic investment in attractive economic activities and in priority sectors such as tourism, fishing, transportation and financial services. The introduction of reforms in the financial sector aimed at increasing financial intermediation and dynamism in the public debt bond market are other objectives of the MCA-CV Management Unit.