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World Bank grants 7.5 billion CFAF to Senegal

Dakar, Senegal - The World Bank (WB) has granted 7.5 billion CFAF to the Senegalese government to help implement its flagship 10-year development plan dubbed 'Senegal Emerging Plan'.

The aid, which is based on partnership between WB, the government and the Senegalese population, will help improve governance, speed inclusive growth, create jobs and improve services for the well-being of the people.

Senegal about one month ago held a donors' conference to seek over US$6 billion for the plan aimed at doubling economic growth rates over the next 10 years.

'For the managing director and chief of financial operations of the World Bank group, Bertrand Badré, who is paying an official visit to Senegal, it is important to assess activities on the ground in a bid to discuss with the Senegalese authorities and the officials of the projects financed by WB for better monitoring and evaluation,' he told a news conference in Dakar on Friday.

In this respect, the WB operations director for Senegal, Cape Verde, Gambia, Guinea Bissau and Mauritania, Mrs Vera Songwe, said that the common goal for Senegal and the WB consisted of increasing revenues, creating jobs and building an inclusive society to eradicate poverty.

She said that Senegal, with its young changing population, needed fast and inclusive growth to absorb its workforce which should rise by 36% over the next decade.

Officially, Senegal’s productive force is estimated at about 7 million people, including 20% who are unemployed or discouraged, and who are no longer looking for job.  However, under-employment represents a more serious problem for Senegal because of the instability of job offers in the sectors of agriculture, trade and construction.

In that respect, WB said that an increase in efficiency would lead to regeneration in the sectors of agriculture, fishing, tourism and mining, adding that the Senegalese government should invest and use resources to create a strong and resilient human capital.

Pana 16/03/2014