(Ecofin Agency) - In February, Japan funded an artisanal fishing project in Casamance.

Japan agreed to grant Senegal $31 million in aid to boost development in the African country. The deal was signed between Senegal’s Minister of Economy, Planning, and Cooperation, Dr. Abdourahmane Sarr, and Japan's Ambassador to Senegal, Izawa Osamu.

This financial aid aims to bolster several critical sectors for Senegal's development. It is "intended for sectors such as health, agriculture, and security, as well as for better human capital management," the ministry wrote on X on July 19.

The funding will help improve infrastructure and strengthen the healthcare system's capacity. Additionally, it will boost the productivity and sustainability of the agricultural sector.

This is the first grant between Japan and Senegal under President Diomaye Faye’s administration. It comes as Senegal's economic outlook has significantly improved. According to the IMF, economic growth is projected at 7.1% in 2024 and 10.1% in 2025, with inflation expected to decrease and stay within the BCEAO’s target range by the end of 2025. In 2023, growth was over 4.6%.