Sao Vicente, Cabo Verde, Oct. 23, 2025 (Lusa) - The Cabo Verdean prime minister called on the international community to support investment in climate action so that extreme events such as Storm Erin in August do not compromise the country's macroeconomic stability and life.

"In today's world, [the climate] cannot be fatality, it cannot be fate, nor can there be a lack of solutions: this is a global fight and puts issues of climate action, recovery and resilience at the centre [of the debate]" with "local and global responses, with strong commitments," said Ulisses Correia e Silva at a meeting between the government and international partners in the city of Mindelo, on the island of São Vicente.

The meeting served to assess the emergency intervention, budgeted at €45 million, already mobilised in response to the widespread destruction caused by Storm Erin on 11 August on the island of São Vicente, where it caused nine deaths, with damage also on the islands of Santo Antão and São Nicolau.

"We have to recapitalise the National Emergency Fund and the Sovereign Emergency Fund," said the prime minister, since "the resources that were available, around €17 million, have already been allocated to provide this emergency coverage".

"If we have another emergency situation tomorrow, we will have the problem of capitalising these resources," he added.

At the same time, he pointed out the need to "mobilise extraordinary resources to increase resilience in the medium and long term".

In addition to the social and economic emergency response and infrastructure reconstruction (actions ongoing until 2026), it will be necessary to support a resilient reconstruction plan, which is currently being prepared and has an indicative figure of €350 million to be applied over 10 years.

Olavo Correia, deputy prime minister for Finance and the Digital Economy, showed projections of how intervention after Storm Erin, in an economy such as that of the archipelago, could worsen the deficit and public debt with a potential impact "on macroeconomic stability".

Stability "is an asset that cannot be wasted, fundamental to the Cabo Verdean economy," he said.

"Therefore, my appeal to the international community: we need a budget that is resilient to external climate shocks," whether through donations or concessional financing, multilateral guarantees, or debt conversion into a climate fund (already created), he pointed out.

Olavo Correia proposed "a 50-50 share" between the state and international partners, "because the climate is a global public good and Cabo Verde is an open country at the service of the world" that should not see its path to macroeconomic balance, recognised by its partners, undermined.

Storm Erin came at a time when Cabo Verde had already prepared its structural climate commitment documents, which foresee investments of €5.1 billion by 2050.

This amounts to around €200 million per year, and the Cabo Verde Government proposes that its partners activate mechanisms to support half of this, because "the climate is a global issue" and "it is cheaper to invest in prevention", he concluded.

The prime minister hopes to see these issues discussed at the next United Nations Climate Summit (COP).

"To respond to this type of situation, initiatives such as the Loss and Damage Fund," approved at COP27 but still to be implemented, "make perfect sense to support the most vulnerable countries in recovering" from extreme weather events.

Ulisses Correia e Silva described it as "an act of solidarity" between developed countries and more vulnerable countries, a "global commitment," which he hopes to see “triggered” at COP30 in Belém, Brazil, in November.

"It is important to continue to hammer home this point," he stressed.

Cabo Verde's development partners were represented at the meeting and reiterated their words of support, which should be followed by bilateral contacts.

According to data presented at today's meeting, of the €35 million in the emergency infrastructure recovery plan launched in September, €19 million should be implemented by the end of the year in various infrastructures such as water, electricity, telecommunications, roads, housing and schools.

There is also €10 million earmarked for social interventions.

The Government reiterated that quarterly reports on the use of funds will be published.

LFO/AYLS // AYLS

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