Public Management

Senegal: EBID supports urban development projects in Diamniadio and Saint-Louis

Senegal: EBID supports urban development projects in Diamniadio and Saint-Louis
Thursday, 02 November 2023 14:31

This funding supports the Senegalese government's efforts to develop smart cities and accelerate economic growth, in a context of boosting intra-African trade.

The ECOWAS Bank for Investment and Development (EBID) has just granted CFA65 billion ($104.6 million) in financing to support urban development initiatives in Senegal. The agreement, approved at EBID's 85th Session in Lomé, was signed on October 31 by Doudou Ka, Senegal's Minister of the Economy, Planning and Cooperation, and George Donkor, EBID's President.

Of this amount, CFA50 billion is designated for the infrastructure project in District IV of Diamniadio, which is strategically designed to host crucial industries, logistics facilities, and commercial services. The remaining CFA15 billion will be allocated to the construction of the Tivaouane-Mékhé section as part of the Dakar-Tivaouane-Saint-Louis freeway project.

This funding holds a dual significance for Senegal. Firstly, it aligns with the ongoing initiative to transform Diamniadio into a key city with essential infrastructure, aimed at alleviating congestion in the capital, Dakar. Additionally, it lays the groundwork for economic growth in the city of Saint-Louis in anticipation of forthcoming oil and gas extraction endeavors.

"As our nation approaches the exploitation of substantial oil and gas reserves, particularly those found off the coast of Saint-Louis, significant investments have been directed towards their development. Saint-Louis is set to evolve into a hub for hydrocarbon activities, sparking growth in economic ventures and the influx of new services and industries. To prepare for this transition, we're taking the lead by enhancing our road networks and modernizing the city's airport facilities to meet international standards," Minister Doudou Ka said.

These EBID investments are expected to significantly contribute to the advancement of various sectors, such as agriculture, mining, fishing, and tourism, while also fostering trade within the ECOWAS and North Africa. The credit extension brings EBID's commitments to Senegal to around CFA 350 billion.

Additional Info

  • communiques: Non
  • couleur: N/A
On the same topic
Côte d’Ivoire will receive $234 million for a sustainable urban mobility project in Abidjan. Gambia will receive $32.2 million to build...
Stanbic IBTC and Zenith Bank cut monthly card spending abroad to $500 and $200 Foreign reserves fall by $3.5 billion in six...
Cauri Money launches Gajo Money, an e-wallet for the Cameroonian diaspora, targeting €120 million in transactions by end-2025. The fintech...
• Kenya and ASR sign deal to reduce risk on projects worth up to $2 billion.• Risk cover will target infrastructure, energy, logistics, and trade...
Most Read
01

• Investors seem to keep focusing on yields, which are high for the moment• New Leadership might see...

Afreximbank Bonds Retain Market Confidence Despite Moody’s Downgrade
02

• ECOWAS Bank funds 47.7-km stretch of strategic 700-km road project• Lagos-Calabar highway seen boo...

Nigeria Secures $100 mln ECOWAS Bank Loan for Lagos-Calabar Coastal Highway
03

• Algeria grants commercial 5G licenses to top three telecom operators: Mobilis, Djezzy, and Ooredoo...

Algeria Awards Commercial 5G Licenses
04

• IFC teams up with AfDB and Nigeria’s EbonyLife to assess a new fund for African cinema• Sector cou...

IFC Plans Investment Fund to Help Grow African Film Industry
05

• Global coffee consumption projected to hit a record 169.4 million 60-kg bags in 2025/2026, up from...

Coffee: Global Consumption Expected to Reach Record Level in 2025/2026
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
Média kit : Download

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.