Table 5. Cabo Verde joint office funds 2018-2021

of the efficiency ratio, which can be found to drop from 0.32 to 0.11 over the same period, which coincides with two circumstances: the United Nations delinking process (and the absence of two key positions in the joint offices); and an increase in resource mobilization during 2020 and 2021.

To fully understand and analyse these numbers, it is important to compare the 2018-2021 situation with that of the 2012-2017 period. In terms of the support budget, apart from in 2016, a continuous decline can be seen from 2015 to 2021. The ratio between the two variables (support budget / programme funds) was always above 0.3 during the previous period, with a significant drop in the current period. Table 5 shows the funds contributed by each agency to the joint office budget during the period (both programmatic and support funds).

TABLE 5. Cabo Verde joint office funds 2018-2021

2018 2019 2020 2021 Total Joint office funds

UNDP UNICEF UNFPA TOTAL

4,743,983 1,916,225 864,280 7,524,488

5,239,290 1,673,865

851,522 7,764,677 8,318,372 2,228,635 1,203,768 11,750,775 9,566,848 2,810,142 1,001,060 13,378,050 27,868,493 8,628,867 3,920,630 40,417,990

Data Source: Data from the Cabo Verde joint office as of 10 November 2021

2.5.3 CCP 2018 – 2022 financial performance and resource mobilization

This section analyses the CCP financial performance. It should be noted that 2018 was a year of transition for the CCP, in which projects and initiatives of the previous CCP were finalized. These projects were not considered in the analysis of the 2018-2022 CCP, as they were in their last year of completion. The detailed list of projects of the former CCP implemented in 2018 can be found in Annex 5, and the complete financial assessment can be found in Annex 13.

Finding 20. Over the 2018-2022 programme cycle, the joint office managed to mobilize 90 percent ($35.80 million) of the CCP total planned financial resources ($39.59 million). The joint office depends on few donors and has not received any government cost sharing, with bilateral and multilateral funds representing approximately 52.65 percent ($15.50 million) of programme expenditure. Funds from the European Union (29 percent) and the Government of Luxembourg (23 percent) represent more than half of the total delivery of the joint office. This represents a risk and suggests limited capacity to mobilize resources outside of traditional partners.

During the current programme cycle (2018-2022), the budget for the five outcomes of the Cabo Verde CCP 2018–2022 amounted to $35.8 million, and programme expenditure $29.45 million, reaching an 82 percent execution rate (see table 6). Programme expenditure in 2021 relate to delivery as of 15 November, which lowers the execution rate since many funds were disbursed at the end of the year. The execution rate for the 2018-2020 period was 88 percent.