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Cape Verde joined the World Bank in November 20, 1978, after declaring its independence from Portugal in 1975. The first agreement with the IDA occurred on February 8, 1983, supporting the Praia Port Project for the amount of $7,200,000. Since then 45 other projects have been approved through the World Bank totaling in $445,200,000. A majority of projects were focused around the central government, followed by industrial and trade services. Other projects were approved in transportation, energy, social protection, and ports. As of November 29, 2019, there are nine active projects funded by the IBRD and IDA totaling $156,000,000.
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