Public Management

The U.S. backs development projects in Senegal with $1bln

The U.S. backs development projects in Senegal with $1bln
Monday, 22 November 2021 16:57

Following his trips to Kenya and Nigeria, the U.S. Secretary of State Antony Blinken ended his African mini-tour in Senegal. With Senegalese authorities, the U.S. envoy discussed security challenges in West Africa and explored ways to strengthen cooperation in various areas.

The United States has signed new memoranda of understanding worth $ 1 billion with Senegal. The announcement was made on Twitter by U.S. Secretary of State Antony Blinken (pictured, left), during his visit to the country.

The deals cover various areas including security and infrastructure. According to Senegal's Minister of the Economy, Amadou Hott, they consist of a "project to deploy critical network services for public safety" and the installation of 375 traffic lights in Dakar. In addition, a highway will be built between Dakar and Saint Louis and a bridge will be built in Ziguinchor. 

Senegal has for several years been considered one of Washington's main gateways to Francophone West Africa. The country was the only Francophone county visited by Antony Blinken during his African tour. Between 2012 and 2019, exports from Dakar to Washington increased from $16.8 million to $132 million, while U.S. exports to Senegal rose from $149.3 million to $198 million over the same period. In 2020, during the Covid-19 pandemic, bilateral trade between the two countries stood at nearly $400 million.

“The U.S. investments in Senegal have increased significantly in recent years. 50 U.S. companies are currently active here. And the number continues to grow. Even today, I witnessed the signing of several memoranda of understanding between the Senegalese government and four U.S. companies. These deals will implement key infrastructure projects that will benefit the populations in both our countries through job creation and environmental protection. I think that will make a difference in people's lives in the future,” Blinken told journalists.

According to the official, discussions are also underway with the Pasteur Institute of Dakar to locally develop vaccines against covid-19 in Senegal. As a reminder, the German laboratory BioNTech had already chosen the West African country to host, with Rwanda, its vaccine manufacturing plants on the continent. While the American firm Moderna is also planning such a project in Africa, Senegal remains on the list of countries that could host this plant.

Moutiou Adjibi Nourou

 

On the same topic
Cameroon Treasury bill demand rises to 84.84% in January Rate surpasses CEMAC regional average of 69.04% Average yield falls to 6.87%, easing...
Verdant Capital structured a $5 million equity placement for Polysmart Packaging Group. The funds will expand food-grade recycled PET production...
Askadar Housmane Sanou has been appointed to lead Burkina Faso’s state investment fund, CDI-BF. The fund, created in 2023, is central to...
Central Bank of Nigeria said 20 commercial banks have met new minimum capital requirements, with the deadline set for March 31, 2026. Banks have...
Most Read
01

Senegal launches 200 billion CFA bond in UEMOA Proceeds to fund 2026 budget, transformation agend...

Senegal Launches $360 Million Regional Bond Sale
02

Amazon begins talks with Kenya on low-Earth orbit satellite broadband Kenya’s digital market ...

Amazon Turns to Kenya as Its Next Low-Orbit Satellite Internet Bet in Africa
03

Algeria’s NESDA and the Algerian‑Saudi Investment Company sign cooperation deal focused on researc...

Algeria’s NESDA, ASICOM Sign SME Investment Deal; Funding Details Unspecified
04

DRC seeks ITC support for local battery value chains Musompo SEZ targets $2 billion private ...

DRC seeks ITC support to advance battery mineral value chains
05

BOAD says sovereign bond purchases are liquidity management Member states accelerate borrow...

BOAD Defends Sovereign Bond Purchases as Liquidity Management, Not Budget Support
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72


EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.