The World Bank has approved an additional €57.5 million in financing to support Senegal's efforts in job creation, economic transformation, and private sector–led recovery.
The funding is part of the Employment, Economic Transformation, and Recovery Program, and it reinforces support for the Program to Accelerate Competitiveness and Employment (PACE).
This concessional financing aims to expand the reach of the government’s program across four key result areas: enhancing competitiveness, promoting technological innovation, improving access to finance, and encouraging private investment. Special emphasis is placed on women-led enterprises and climate-resilient technologies, in line with Senegal’s Vision 2050.
"This financing reflects the World Bank’s commitment to supporting Senegal’s efforts to advance the private sector — especially micro, small, and medium-sized enterprises (MSMEs) — and to create more jobs,” said Keiko Miwa, World Bank Country Director for Senegal.
The program is based on close collaboration with various Senegalese institutions, including the Ministry of Economy and Planning, ADEPME, FONGIP, FONSIS, APIX, and the Ministry of Industry and Trade. It notably supports access to finance through loan guarantees, equity instruments such as the Oyass Fund, and reforms to strengthen public–private partnerships.
This new financing marks a key milestone in advancing Senegal’s vision of a resilient, innovative, and inclusive economic model, positioning the country as a future regional hub for entrepreneurship in West Africa.