Social economic integration

Promotion of local initiatives

In order to ensure the integrated and socially sustainable tourism development of the Boa Vista and Maio islands, SDTIBM (Boa Vista and Maio Islands Tourism Development Company) created the “Boa Vista e Maio” Economic and Social Fund (FESBEM) , a financial instrument designed to support initiatives on the two islands, fostering the creation, expansion and modernization of small businesses and / or small businesses. Support will be given to investment projects of demonstrated profitability and social interest to the community to meet the needs of local populations or the tourist sector, up to the limit of 2 million escudos.

FESBEM is managed by a financial institution – Banco Cabo Verdiano de Negocios (BCN), under a contract with SDTIBM, which will supervise the implementation of the Fund and the aid it provides.

Applications for funding should be sent to Banco Cabo Verdiano de Negocios (BCN), which will complete them with relevant elements, prepare a technical opinion and refer it to the FESBEM Project Evaluation Committee (CAP) for consideration. CAP’s final position is taken taking into account the economic and financial viability of the project, the creditworthiness of the borrower / developer and the interest of the project for the development of the communities where it is inserted, and then forwarded to the Bank and the Board of Directors of SDTIBM for the final decision, ie whether or not to approve the application for funding.


Also within the framework of FESBEM, taking into account that, due to the economic development driven by tourism growth, there is, in the short and medium term, a shortage of skilled labor to work, both in tourist enterprises and in construction, SDTIBM , has been promoting the implementation of several vocational training actions, in the islands of Boa Vista and Maio.

Since 2007, SDTIBM has been heavily involved in training and technical and vocational training. To date, more than 30 courses have benefited approximately 780 people living in Boa Vista and in May and intend to continue to support vocational training with to equip the populations with the necessary tools to be able to not only occupy the jobs that are being created but also to generate self-employment and promote the growth and development of the local economy.