São Domingos: SOS villages report better condition after receiving support from iib

1 March, 2024

‘SOS Children’s Villages, in São Domingos, have managed, in recent years, to improve food, education and health conditions for the children they host, with the support of the international investment bank (iib), which granted a social obligation in more than Three million esucodes.’

Through the social obligation “iib Solidary Indexed Bond Series B (2.95% + SOS) – 2022 | 2024”, the bank has contributed to the financial stability and well-being of the at-risk communities supported by the organization, in particular Aldeia SOS de São Domingos, in Santiago, as stated in a statement.

“The iibCV social obligation was issued with the aim of allocating part of the remuneration of the funds to Aldeia SOS de São Domingos, contributing to supporting the organization with essential expenses, including family, educational and health expenses”, he points out.

31% of essential expenses

The amount made available, according to the same source, corresponds to 31% of the annual budget for essential expenses of Aldeia SOS de São Domingos, in a total of 3,200,000 CVE, of which, by September 2023, 705,905 CVE had been used, the which corresponds to 22% of the total value.

“The amount made it possible to improve the housing conditions of one of the houses in Aldeia SOS de SãoDomingos, as well as support family expenses – food, cleaning, clothing and operational expenses –, education and health”, states the bank.

Huge impact

Alcides Moreira, director of Aldeia SOS São Domingos, recognized the importance and success of this initiative, with immediate and long-term effects.

“The impact of the support granted by iibCV is enormous and with immediate and medium-term effect, allowing us to improve our children’s nutrition, provide different holidays, with the opportunity to attend the Cesária Évora arts academy, among other activities”, listed the responsible.

Along the same lines, he added, it was possible to pay for transport for the children to carry out activities in partnership with the University of Cape Verde, as part of their participation in the Uni-CV kids program.

Studies in Portugal

“This support also allowed, in the last quarter, six more of our young people to continue their studies in Portugal. It was also possible to improve the conditions of one of our homes, improving the reception of our children and young people”, he said.

The impact of the Social Bond, according to iib’s director of Human Capital and Social Responsibility, Leida Semedo, reflects the bank’s “commitment to sustainability and social responsibility, with a special focus on the well-being of children and young people in Cabo -Green”.

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