On 1 July 2019, at the Cape Verde Investment Forum hosted by the Government of Cape Verde (GoCV) on the island of Sal, IIB Group and the GoCV signed an MoU for cooperation on infrastructure development.
The MoU coincided with launch at the Forum of the Cape Verde Infrastructure Fund, a €250m vehicle to be established with IIB Group and GoCV as founding partners. The fund is aimed at upgrading, or building new, infrastructure principally in the transport, energy, water and communications sectors. It will be established in Luxembourg with the manager located in Lisbon. The first closing of the fund is foreseen in Q4 2019 at €50m and the final closing is expected in Q4 2020 at €250m, to be followed by a five-year investment period and ten-year overall fund life.
From left to right: Mr. João Poppe (IIBG), Mr. César Ferreira (IIBG), H.E. Olavo Correia (Vice Prime Minister, Cape Verde), H.E. Gilberto de Barros (Secretary of State for Finance, Cape Verde), Dr. Shakeib Arshad (IIBG), Dr. João Santos (Advisor to the Vice Prime Minister of Cape Verde).