Cabo Verde: Technical Assistance Report-Climate Public Investment Management Assessment (C-PIMA)
Technical Assistance Reports, April 26, 2024
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- Cabo Verde: Technical Assistance Report-Climate Public Investment Management Assessment (C-PIMA)
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Bibliographic details
- Published: April 26, 2024
- Series: Technical Assistance Reports
- DOI: https://doi.org/10.5089/9798400272479.019
Overview and scope
- Technical report discussing the findings and recommendations of the Climate Public Investment Management Assessment (PIMA) of Cabo Verde (CPV) undertaken in March 2023.
- The C-PIMA report informed the design of the reform measures for a recently approved Arrangement Under the Resilience and Sustainability Facility.
- Publication date shown: April 26, 2024.
Key findings on policy framework and planning
- Progress has been made in the development of a comprehensive climate change policy framework.
- Progress has been made in spatial planning.
- Progress has been made in coordination with municipalities.
- Progress has been made in planning for disaster risk financing.
- Coordination across the central government is weak with no institution positioned strategically to lead either adaptation or mitigation related investments.
Findings on institutions, investments, and oversight
- The regulatory and oversight framework for public enterprise (PEs) does not promote consistency between their climate-related investments and national climate policies.
- PEs are the main driver of public investment in Cabo Verde.
- The Public-Private Partnership (PPP) framework does not define how climate risks are allocated between the government and PPP partners, while the use of PPP is increasing.
- Investment project appraisal and selection practices do not exist.
- Climate-responsive spending in infrastructure is at a concept development stage.
- Gender budgeting is a well-recognised practice.
- Ex post reviews or external audits of projects on climate outcomes are not conducted.
- Climate impact is not integrated into public asset management.
Recommendations and policy implications
- On the grounds described above, the report makes seven high-priority recommendations which could improve climate-related public investment management in Cabo Verde and support green and sustainable economic growth.
- These recommendations are intended to strengthen central government coordination, align PE investments with national climate policies, clarify PPP climate-risk allocation, establish investment appraisal and selection practices, advance climate-responsive infrastructure spending beyond concept stage, implement ex post reviews or external audits for climate outcomes, and integrate climate impact into public asset management. (Report text: "On these grounds, this report makes seven high-priority recommendations which could improve climate-related public investment management in Cabo Verde and support green and sustainable economic growth.")
Subject tags and keywords (as listed)
- Subject: Climate change, Climate finance, Environment, Expenditure, International organization, Monetary policy, Natural disasters, Public investment spending
- Keywords: Cabo Verde, Cabo Verde infrastructure, Cabo Verde port authority, capital spending, Climate change, climate change Pima framework, Climate finance, climate sensitive infrastructure., climate- related public sector planning and coordination, Global, I. climate change in Cabo verde, IMF's Fiscal Affairs Department, Natural disasters, public investment management, Public investment spending
International Monetary Fund. Cabo Verde: Technical Assistance Report-Climate Public Investment Management Assessment (C-PIMA), Technical Assistance Reports 2024, 034 (2024).
Content in this bundle
- Tarea2024034