Cape Verde’s Prime Minister, Ulisses Correia e Silva, called on the international community this Wednesday (22) to support investment in climate action so that extreme weather events, such as Tropical Storm Erin in August, do not compromise the country’s macroeconomic stability and way of life.
“In today’s world, climate cannot be seen as fate, as destiny, or as something without solutions — this is a global fight that places climate action, recovery, and resilience at the center of the debate,” said Correia e Silva during a government meeting with international partners in Mindelo, on the island of São Vicente.
The meeting aimed to assess the €45 million emergency response plan, already mobilized, following the widespread destruction caused by Storm Erin on August 11 on São Vicente Island, where nine people lost their lives. The storm also caused damage on the islands of Santo Antão and São Nicolau.
“We need to recapitalize the National Emergency Fund and the Sovereign Emergency Fund,” the Prime Minister stated, noting that “the available resources — about €17 million — have already been fully allocated to emergency coverage.”
“If another crisis hits tomorrow, we’ll face a capitalization issue,” he warned, stressing the need to “mobilize extraordinary resources to build resilience from a medium- and long-term perspective.”
In addition to the emergency social, economic, and infrastructure reconstruction response (underway until 2026), the government is preparing a ten-year Resilient Reconstruction Plan valued at €350 million.
Meanwhile, Olavo Correia, Deputy Prime Minister and Minister of Finance and Digital Economy, presented projections showing how post-storm interventions in a small economy like Cape Verde’s could worsen the fiscal deficit and public debt, potentially affecting macroeconomic stability.
“Stability is an asset that cannot be squandered — it is fundamental to Cape Verde’s economy,” he emphasized. “That is why I appeal to the international community: we need a budget resilient to external climate shocks, through grants, concessional loans, multilateral guarantees, and debt-for-climate swaps (already established),” he said.
The minister proposed a 50-50 participation model between the State and international partners, stressing that “climate is a global public good” and that Cape Verde — “a country open and serving the world” — should not see its recognized macroeconomic balance undermined.
Storm Erin struck just as the government had finalized its national climate commitment documents, which foresee €5.1 billion in investments by 2050 — about €200 million per year. The government proposes that partners contribute half of that amount, as “climate is a global issue” and “prevention is cheaper than response,” Correia e Silva concluded.
The Prime Minister expressed hope that these issues will be discussed at the upcoming United Nations Climate Change Conference (COP).
“To respond to events like this, initiatives such as the Loss and Damage Fund — approved at COP27 but not yet operational — make perfect sense to help vulnerable countries recover from extreme climate events,” he said.
Correia e Silva described the fund as “an act of solidarity between developed and vulnerable nations — a global commitment” and said he hopes to see its implementation “triggered” at COP30 in Belém, Brazil, in November. “It’s important to keep pushing on this issue,” he emphasized.
Cape Verde’s development partners attended the meeting and reiterated their support, with bilateral discussions expected to follow.
According to data presented at Wednesday’s meeting, €19 million of the €35 million emergency infrastructure recovery plan, launched in September, is expected to be executed by the end of the year, covering projects such as water, electricity, telecommunications networks, roads, housing, and schools.
An additional €10 million has been allocated to social interventions.
The government reaffirmed its commitment to publishing quarterly reports detailing the use of funds.
Source: Lusa
