Launched in 2021, Global Gateway is a European Commission initiative to mobilise new investments and contribute to the sustainable development of partner countries in the fields of digital, energy and transport, as well as to strengthen health, education and research systems around the world. 

With the new financial instrument for neighbourhood, development cooperation and international cooperation, called “Global Europe”, the European Union, its Member States – including their implementing agencies and public development banks – and the European Investment Bank (EIB), brought together in Team Europe, are committed to mobilising the private sector to promote local value creation, sustainable growth and job creation.

In 2024, the Government of Cabo Verde, the European Union and the European Investment Bank signed two new financing agreements, totalling €300 million, to support the strategic sectors of digital, ports and renewable energy in Cabo Verde.

Renewable energy

Support for Cabo Verde's energy sector with €159 million in financing from Team Europe.

This financing is intended for the design and construction of an electricity production, grid and storage complex by 2029. The investment is part of Cabo Verde's National Electricity Master Plan (2018-2040) and aims to reduce Cabo Verde's dependence on expensive and polluting fossil fuels by 2040. It will also ensure new storage capacity for electricity generated from renewable energy sources. 

The support is in line with Cabo Verde's targets for the transition to renewable energy, aiming to achieve 50% renewable energy by 2030, as well as with European policies and global efforts to reduce carbon emissions and combat climate change.

Digital

Strengthening digital connections with €37 million in funding to help Cabo Verde become a digital hub for the West African region. The European Union is facilitating this operation by mobilising financial guarantees from the European Investment Bank. The funding is intended to invest in a new state-of-the-art submarine cable system connecting Europe to the west coast of Africa. In addition, it will enable the replacement and modernisation of the submarine fibre optic cable connecting the country's islands, improving its functionality and efficiency. 

As a result, the project is expected to generate significant socio-economic benefits for Cabo Verde and the entire West African region, particularly in terms of the availability and quality of digital connectivity for the local private sector, including small and medium-sized enterprises. This initiative will thus stimulate innovation and support the creation of highly skilled jobs in Cape Verde, positioning the country as a digital hub between Africa, Europe and South America.

Modernisation of port infrastructure

Development of port infrastructure with €105 million in funding for the expansion and modernisation of strategic ports in Cabo Verde. 

The European Union, in collaboration with the European Investment Bank, will provide €105 million to the Cabo Verdean government for the expansion and modernisation of several strategic ports in Cabo Verde, namely Porto Grande do Mindelo on the island of São Vicente, Porto Novo on the island of Santo Antão, and Porto da Palmeira on the island of Sal. In addition to extending the breakwaters and mooring quays, basic infrastructure will also be installed to enable the private sector to invest in water sports, such as marinas, to support the growing nautical economy industry in the Cabo Verde archipelago.

See factsheet on Global Gateway in renewable energy, digital and modernisation of port infrastructures here.