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News
Brought to you by: Monaco Life
Cape Verde agreement with HE Isabelle Picco and HE Jose Luis Fiahlo Rocha, Ambassadors, Permanent Representatives to the United Nations © DR[/caption]
The Republic of Cape Verde has become the 135th state to establish diplomatic relations with the Principality of Monaco.
HE Jose Luis Fiahlo Rocha, and HE Isabelle Picco, Permanent Representatives to the United Nations, signed a joint communiqué on Thursday, August 10, by which the two states, members of the International Organisation of French-speaking Nations and the Community of Portuguese-Speaking Countries, will further develop their bonds of friendship and cooperation.
An archipelagic African tropical state in the centre of the Atlantic, the Republic of Cabo Verde as it is officially called, has an exclusive economic zone of 800,561 km2 for a territory of 4072 km2 and a continental shelf of more than 5000 km2.
By establishing these diplomatic relations, Monaco is strengthening its collaboration with an island state whose economy, mainly based on tourism, is particularly impacted by climate change.
An example of democracy, success and stability in West Africa, Cape Verde, known for its Creole Portuguese-African culture, began very early in the fight against drugs and strengthened its ability to respond to the challenges of its security while developing its infrastructure, agriculture, and ensuring access to water and sanitation, employment and social services.
Cape Verde will be the second port of call of Yersin, of Monaco Explorations, which will carry out scientific research there in September.
Following the success of the first Défi Solidaire (Solidarity Challenge), initiated by the Directorate of International Cooperation (DCI) in June 2016, the government is launching a new edition of the challenge in which members of the administration will be able to participate, from June 12 to 30.
This year, the Défi Solidaire will allow each official and state agent to vote for micro-entrepreneurs of their choice through the Babyloan platform, a partner of the government. Projects with the highest number of votes will receive microcredits.
The amount of €28,000, allocated by the DCI, will be supplemented by the €22,000 loaned in 2016 and already reimbursed. Thanks to this system of reinjecting funds, more than 100 micro-entrepreneurs will be supported.
“Operation Babyloan” in 2016 attracted 800 voters over one month and as a result 52 projects were selected and financed by the DCI to the tune of €22,000. Four additional projects were financed with the first amounts reimbursed and 100 percent of loans have been repaid.
An information meeting was held on Monday, May 29, in the presence of Arnaud Poissonnier, Founding President of Babyloan. More than forty people participated, demonstrating their interest in social entrepreneurship. Babyloan, the first European solidarity lending site, allows people with very low incomes who are excluded from the traditional banking system to access a microcredit of €400 to €800 to set up or develop a small business.
