Senegal: CFAF 177 Billion from the AfDB to Support Industrial Acceleration, SMEs and Women’s Empowerment

The African Development Bank (AfDB) Group President, Dr. Akinwuni A. Adesina, on a visit to Senegal (26-29 January), signed two financing agreements with the Senegalese government, represented by the country’s Minister of Economy, Planning and Cooperation, Amadou Hott.

The agreements concern, on the one hand, a concessional loan of more than CFA 71.5 billion to finance the Industrial Acceleration, Competitiveness and Employment Support Programme. It aims to respond to the major challenges linked to industrial development, employment and the private sector in Senegal; and on the other hand, a loan of 161.62 million euros for the implementation of phase 1 of the Programme for the opening up of agricultural and mining areas in the north of the country.