U.S. Embassy Praia, Cabo Verde
FOR DISTRIBUTION:
Wednesday, December 9, 2020
PRESS RELEASE
Request for Expressions of Interest in private sector grants from the Trade Hub’s COVID-19 Rapid Response in Cabo Verde co-investment program.
The United States Agency for International Development (USAID) West Africa Trade and Investment Hub issued a solicitation on December 8, 2020 for Expressions of Interest in grants for eligible private sector entities disbursed through the Trade Hub’s COVID-19 Rapid Response in Cabo Verde co-investment program.
The grants will be between $100,000 and $500,000 and sourced from the $1.5 million Economic Support Funds (ESF) the U.S. government designated earlier for assistance to Cabo Verde. The Trade Hub will co-invest a total of $1.08 million with the Cabo Verde private sector, allocating remaining funds for technical assistance.
Applicants must propose activities that mitigate the economic impact of the COVID-19 pandemic and provide co-investment funds in a ratio of at least 1:1 to the amount of the grant requested.
Co-investments may target one of the following sectors: finance and investment, tourism, information technology, agriculture, fisheries and aquaculture, manufacturing, transportation, or renewable energy.
Expressions of Interest will be reviewed on a rolling basis as they are received but must be submitted by March 31, 2021. Details about the application process can be found in the Annual Program Statement on the West Africa Trade and Investment Hub website.
In January, the Trade Hub plans to host a webinar for interested Cabo Verdean private sector entities about the grant application process as well as the benefits of the Africa Growth and Opportunity Act (AGOA) and the Trade Hub’s co-investment fund. More details on this will follow.
