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Date: 22/09/2006
CAPE VERDE MORTGAGES - VILA VERDE



TECNICIL signed a partnership agreement with Banco Espirito Santo, a leading Portuguese bank which has recently started operations in Cape Verde. At a ceremony with the presence of the President of Cape Verde and the Minister of Infrastructure, Transportation and Sea which took place on Sal Island, September 29th, the parties have expressed their confidence that the act represents the start of a strong, fruitful and lasting relationship. According to the agreement the first project to be financed is VilaVerde Resort for which a total of 120 million Euros has already been allocated. This will include development loan, mortgages for Vila Verde clients and guarantees



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