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News Posted On: 26 February 2009
The Cape Verde government is hoping to attract Arab investment through a partnership with Morocco, a new report has revealed.
According to data from Cape Verde news agency Inforpress, the government is preparing to spend $300 million (£210.2 million) on improving the infrastructure, although the finance ministry has not commented on the suggestions.
Despite this, Taleb Barrada, the ambassador from Morocco, has revealed that the north African nation is ready to back development in Cape Verde.
The news agency reported that the government is looking to partner with Morocco to help attract other Arab investors to boost infrastructure projects in the country and improve water supply, education projects and transport.
Mr Barrada said he has been given the job of setting up a meeting in Rabat to discuss investment in the west African archipelago.
The improvement of infrastructure in Cape Verde could make it an attractive destination for investors, particularly as property prices in the country remain relatively low.
Cape Verde was re-categorised as a developing nation from a less developed country in 2007.
Written by Jamie Arthur
Overseas Property - serving the overseas property market since 1992
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