Public Management

Senegal: ITFC announces US$435 mln support in key economic sectors

Tuesday, 31 January 2023 19:06
Senegal: ITFC announces US$435 mln support in key economic sectors

(Ecofin Agency) - For years now, Senegal has been implementing the Plan for an Emerging Senegal (PES) to accelerate industrialization, improve human capital, and good governance and establish the rule of law. This bid is supported by technical and financial partners.

The International Islamic Trade Finance Corporation (ITFC) and Senegal recently signed an over US$435 million financing agreement, the ITFC announced last Monday.

The envelope will support the implementation of ITFC's 2023 annual plan in key sectors, including agriculture, energy, and health, as well as the private sector, in Senegal. In addition to the agreement, the two parties also agreed on a two-year (2023-2024) Arab-African Trade Bridges (AATB) country program to promote trade in various sectors such as agribusiness, pharmaceuticals, and e-commerce.

"The AATB Program strengthens the government’s effort to enhance trade between Senegal and its African counterparts as well as diversify and grow its trade volume with the Arab region. The AATB country program covers the rolling out of trade projects and supports high-potential sectors in line with the implementation of the African Continental Free Trade Area (AfCFTA) Agreement," the corporation indicates.

The new agreements between the Senegalese government and ITFC are part of a revised US$1.5 billion five-year framework agreement signed in 2021. The framework agreement is aligned with the Plan for an Emerging Senegal (PES) initiated by Senegal to strengthen several strategic sectors, including the agricultural value chain, food and energy security, and small and medium-sized businesses.

Last December, Senegal announced more than US$806/3 million in investments over 2023-2025 as part of the regional Priority Investment Program (PIP). This project will promote the development of sectors such as security, education training, health, culture, infrastructure, agriculture, mining, etc.

In the long run,  the Plan for an Emerging Senegal (PES) aims to structurally transform the economy promote the development of human capital, and good governance, and establish the rule of law.

Jean-Marc Gogbeu

Additional Info

  • communiques: Non
  • couleur: N/A
 
Finance


 
Telecom


Ecofin Agency covers the news from 9 business sectors in Africa: Public management, Finance, ICT, Agribusiness, Electricity, Mining, Oil and Gas, Comms and Laws. Ecofin Agency is also creating and management specialized medias, in paper and on the web/social networks, for institutions or African publishers.

AGENCE ECOFIN

Mediamania Sarl
Rue du Léman, 6
1201 Genève
Tél: +41 22 301 96 11

REDACTION
redaction@agenceecofin.com

Public management
Aaron AKINOCHO
Borgia KOBRI
Moutiou ADJIBI

Finance
Idriss LINGE
Walid KEFI
Chamberline MOKO

Agribusiness
Espoir OLODO

Electricity
Gwladys JOHNSON

Oil and Gas
Olivier DE SOUZA

Mining
Louis-Nino KANSOUN

ITC 
Muriel EDJO

Comms
Servan AHOUGNON

Cameroon
Brice R. MBODIAM
Sylvain ANDZONGO
Monique MAY
Julienne Rose SENDE

Togo
Fiacre E. KAKPO
Waliyullah TAJUDEEN
Séna AKODA

Niger
Sandrine GAINGNE

Gabon
Stephane BILLE
Pierre-Celestin ATANGANA

Desk
Stéphane ALIDJINOU
Souha TOURE
Vahid CODJIA
Diane ZODEHOUGAN
Hikmatu BILALI

Translation
Schadrac AKINOCHO
Mouka MEZONLIN
Firmine AÏZAN



Digital
Omar SOKHNA
Mamadou DIOP
Bacary MANE
Abdel Razak MOULIOM

Digital Marketing
Jérémie FLAUX
Geraud ACHI
Jean Christian BERNARD
Franck FOUTE

Web publishing
Bakoly RAHARISOA
Rina RAMANANDRAISOA
Hasina RAJEMISON

Development
Dominique FLAUX

 


 
REGIE COMMERCIALE
AGENCE ECOFIN
Rue du Léman, 6
1201 Genève
Tél: +41 22 301 96 11
Fax: +41 22 301 96 10

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

Voir page 
Nos services
 

 










 



Ecofin Agency is a news agency for economic and sectorial information. It was created in 2010 and it website was launched in June 2011.

Please publish modules in offcanvas position.