Country: Cabo Verde
Duration: 2021-2022
Themes: Strengthening the Business Enabling Environment, Expanding Access to Competitive Contestable Markets
Cross Cutting Themes: Gender, Climate
Anticipated Impact Areas: Quality Jobs, Private Investment
The Challenge
Cabo Verde’s robust economic growth was riding on the back of its thriving tourism sector prior to the COVID-19 pandemic. The international travel restrictions and domestic lockdown measures enforced to contain the spread of the pandemic in early 2020 provoked an unprecedented economic contraction in the country. The impact of the COVID-19 pandemic on Cabo Verde’s tourism sector was further exacerbated by challenges that include gaps within environmental management and protection, lack of diversification of tourism products, and the need to increase the penetration of local goods and services into the supply chain of resorts.
The Mission
The Government of Cabo Verde’s revamped national strategic framework, “Ambition 203,” was anchored on an inclusive tourism sector to leverage the potential of emerging opportunities in the Blue Economy spectrum. C-JET’s grant has been a timely enabler in this crucial transition- from uncertainty to sustainability. C-JET’s project has helped the Government of Cabo Verde to institute a nationwide strategic framework for environmental management and protection, diversification of tourism products, and the need to increase the penetration of local goods and services into the supply chain of resorts.
Policies that integrate climate adaptation and the blue economy were drafted and submitted to the cabinet for a cohesive approach toward the blue economy. CJET grant has also contributed to the design to support entrepreneurship and SME development in the tourism and fisheries value chain (worth US$5.74 million). The grant also helped in increasing backward linkages with existing tourism operators.
In the future, CJET funding is expected to also support the enhancement of inclusive and sustainable management of tourism in a Blue Economy through technical assistance and implementation of recommendations on developing newer areas for tourism such as hiking and nocturnal.