Government will launch nine billion escudos credit line to stimulate the economy in the post-COVID-19 phase

Praia, Sep 28 (Inforpress) – The Government will launch nine billion escudos credit line, “with more flexible conditions”, to stimulate the economy in the post-COVID-19 recovery phase, announced today the Secretary of State for Business Development, Adalgisa Vaz.

The ruler spoke at the workshop opening on support mechanisms for Micro-, Small and Medium-sized Enterprises (MSMEs), taking place today in the City of Praia, with the aim of developing a feasibility study to outline the project to strengthen employability and inclusion of young people.

According to data presented during the workshop, MSMEs make up about 98 percent (%) of formal companies and represent 40 percent of formal jobs.

And in order to strengthen its key role in the Cabo Verdean economy, the Government and other partners have had a diagnosis carried out to assess and address market failures in the support and financing of MSMEs.

MJB/AA/HVF

Inforpress

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