Cabo Verde 2030 Acceleration Fund 

Objectives

Fund Objectives

Fund scope 

Though Cape Verde graduated from the group of Least Developed Countries (LDCs) in 2008, it still faces economic vulnerabilities. Cape Verde has a high debt-to-GDP ratio at 126%, making the fiscal space extremely limited. Poverty remains a critical issue with 35.6% of Cape Verdeans classified as poor and 10.6% extremely poor, and inequality is one the country’s greatest challenges. The unemployment rate is 15%, with a higher incidence among women than men (17% vs 13%). And addressing youth challenges remains important, especially to ensure economic growth and that youth are meaningfully involved in the sustainable development of the country.  Cabo Verde also faces environmental vulnerabilities related to its location in the Sahel region and the consequent lack of rain resulting in severe drought in recent years. 

The One Programme  seeks to better support Cape Verde’s national policies in accelerating economic growth, promoting competiveness, creating productive employment and fighting poverty. The Cape Verde Transition Fund was established in 2008 to support the coherent resource mobilization, allocation and disbursement of new donor resources to unfunded elements of the country’s One Programme and to new initiatives responding to emerging needs within the context of the One UN Programme and the ‘‘Delivering as One’’.   

Strategic framework and theory of change  

With the passage of the Sustainable Development Goals (SDGs) in 2015, the UN Country Team decided to use the remaining balance of the joint fund mobilized through the initiative of “Delivering as One” in Cape Verde, as part of the Cape Verde Trust Fund, to fund the  United Nations Development Assistance Framework (UNDAF) 2018-2022. 

The UNDAF is structured around the five main pillars of the Agenda 2030, and focused on improving governance along with social, economic and environmental resilience in the country: 

• Planet: By 2022, the population of Cape Verde, particularly the most vulnerable, benefit from enhanced national and local capacity to apply integrated and innovative approaches to the sustainable and participative management of natural resources and biodiversity, climate change adaptation and mitigation, and disaster risk reduction. 
• Prosperity: By 2022, the population of Cape Verde of working age, particularly women and youth, benefit from decent work through economic transformation in key sectors, that leads to more sustainable and inclusive economic development. 
• Peace:  By 2022, the population of Cape Verde population, particularly women, youth and children, benefit from increased human security, improved social cohesion, and a responsive and inclusive justice system and law application institutions, that lead to the fulfilment of human rights. 

Moreover, the Transition Fund also provides critical support contributing to advocacy, policy dialogue and capacity building for planning and implementation in the context of climate change. 

Governance

Governance

The One UN Steering Committee advances UN reform by providing strategic leadership and guidance to the "Delivering as One" process in Cape Verde. The Steering Committee is co-chaired by the Minister of Foreign Affairs and the UN Resident Coordinator. Membership of the Steering Committee is limited to nine representatives – three from the Government, four from the United Nations, one from the National Association of Municipalities and one from Civil Society.

The Resident Coordinator and the Resident Coordinator’s Office -The overall management of the Transition Fund is led and coordinated by the Resident Coordinator (RC), in consultation with the United Nations Country Team (UNCT). The RC is the co-chair of the Steering Committee and provides strategic guidance and leadership to the Committee. The RC also takes leads in mobilizing resources for the Cape Verde Transition Fund, in collaboration with Participating UN Organizations.  

The Office of the Resident Coordinator supports the strategic leadership role of the Resident Coordinator for the Transition Fund. 

Representatives/Heads of the Participating UN Organizations  are responsible for program implementation and utilization of the funds allocated from the Transition Fund. 

Administrative Agent - Participating Organizations receive funds through the Administrative Agent, Multi-Partner Trust Fund (MPTF) Office. The Administrative Agent is responsible for the receipt, administration and management of contributions from donors, disbursement of funds to Participating Organizations, and consolidation and dissemination of progress reports to donors. 

Projects

Cabo Verde 2030 Acceleration Fund

Cabo Verde 2030 Acceleration Fund is currently supporting count_projects ongoing projectscount_globalInterregional and count_countries country-specific. This table shows the most recently approved ongoing projects.

All project financial information can be found in the Financials section, including delivery analysis by organization, theme and project; project financial status by country and by theme.

Cabo Verde 2030 Acceleration Fund

Results

Focus on impact and results

The Cape Verde Transition Fund supports the coherent resource mobilization, allocation and disbursement of new donor resources to unfunded elements of the country’s One Programme and to new initiatives responding to emerging needs. The joint work of UN agencies is enabling communities and people to see improvements to their lives and the services they receive, in order to leave no one behind.

Contacts

Points of contact