(Ecofin Agency) - In a statement released on September 15, the African Development Bank said it will grant Senegal a $1.4 billion financing between 2016 and 2020.

The money will be used to support agricultural processing and acquire infrastructures to boost production and competitiveness (energy and transport), the 2016-2020 Strategy Document for Senegal (DSP 2016-2020) states.

This strategy falls in line with the Emergent Senegal Plan (PSE), the 2014-2035 development strategy and Senegal’s priority actions plan for 2014-2018. It will support key projects of the PSE such as agropoles, the community development emergency programme, the regional express train, the promotion and modernization of cities as well as the strategic implementation and monitoring-evaluation of PSE.

Since 1972, AfDB has green-lit 95 projects, worth FCFA1.2 trillion, to Senegal.