In less than a year, the International Investment Bank (IIB) has become the go-to bank of the Cape Verde state. Last month, the Bahrain-based bank issued a government-backed loan of $12m to save the national airline Cabo Verde Airlines (CVA), which has been rocked by the cancellation of flights on account of Covid-19. A year ago, IIB reached a deal with the Cape Verde authorities to finance new infrastructure and co-founded with the government an entity specifically dedicated to this purpose called
In Focus | Africa, UAE
Islamic bank IIB recycles top Banco Espirito Santo execs in Africa
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Having become the leading private lender in Cape Verde, the Bahraini bank IIB owes its prominence in large part to a small handful of financiers with ties to the defunct Portuguese bank Banco Espirito Santo.
