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Economic and Social Integration
Thursday, 28 October 2010 11:50   
Aiming to ensure an integrated and socially sustainable tourism development of the islands of Boa Vista and Maio, SDTIBM (Boa Vista and Maio Islands Tourism Development Corporation, SA) created the "Economic and Social Fund of Boa Vista and Maio (FESBEM), a a financial instrument whose purpose is to support the iniciatives of residents in these two islands, incouraging the establishment, expansion and modernization of small business. FESBEM will support investment projects with demonstrated profitability and social interest to community, aimed at meeting the needsof local people in the tourism sector, up to 2.000.000 ECV (two million capeverdian escudos).

The management of FESBEM is assuredd by a financial institution - Banco Caboverdiano de Negócios (BCN), throught a contract with SDTIBM, that will oversee the implementaton of the Fund and the aid provided by it.

Applications for fundings must be submitted to the Banco Caboverdiano de Negócios (BCN) that will complete them with the relevant information, prepare a technical report and submit them to the Comission for Evaluation of Projects (CAP) of FESBEM, for consideration. The final position of CAP is made taking into account the viability of the project, the creditworthiness of the borrower/sponsor and the interest of the project for the development of the communities where  it operates and, subsequently forwarded to the Bank and the Bord of Directors of SDTIBM for final decision (aproval or not of the request for funding).



  • Pledge of DP constituted by the Fund to the extend of 50% (fifty percent) of the credit amount; 


Borrowers/beneficiaries of the credit must also submit the following guarantees:

  • Endorsement by case examination;
  • Pledge of equipment in the credits that involve the acquisition of machinery and equipment;
  • other guarantess that may be necessary, depending on the nature of the projects.
Documents  required for credit analysis:
Customer's Documents
  • Project Fact sheet with all documents required by the CAP
  • Borrower/promoter's Identification
  • Declaration of NIF
  • Declaration of maturity, which should include the type of employmen contract;
  • Proforma invoice of goods to be purchased.
Guarantor's Documents
  • Identification
  • Declaration of NIF
  • Statement of Net earnings






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