Senegal President Macky Sall and EIB President Werner Hoyer discuss COVID response and sustainable investment priorities
12 April 2021
President Macky Sall welcomes strong EIB support for public health private sector, clean energy, urban development, water and waste management across Senegal
EIB President highlights impact of close EIB cooperation with public and private partners to support job creation, climate action and regional economic development
EIB ready to support new initiatives to stimulate economic growth and improve education in Senegal
During an official visit to Brussels Macky Sall, President of the Republic of Senegal, accompanied by the Foreign and Economy Minister today met Werner Hoyer, President of the European Investment Bank to discuss public and private investment priorities to tackle the impact of COVID-19, enhance economic opportunities, increase access to clean energy and improve services across Senegal, including in Dakar, secondary towns and rural districts.
“The European Investment Bank is a key partner to accelerate sustainable development and climate action in Senegal and Africa. The excellent cooperation between Senegal and the EIB is creating economic opportunities, delivering better access to essential services including water, waste management, energy and sustainable transport and strengthening efforts to improve public health and economic resilience to COVID-19 in Senegal. On behalf of Senegal I wish to congratulate President Hoyer and the EIB for their 55 years of engagement in Senegal and our shared vision of a better and greener future for Senegal and Africa.” said Macky Sall, President of the Republic of Senegal.
“The close partnership between the EIB and public and private partners in Senegal is accelerating visionary and ambitious projects to transform access to finance, clean energy, water and waste services for millions of Senegalese citizens. Today’s meeting with President Macky Sall, Minister Hott and Minister Tall Sall will enable even closer cooperation. In line with European Union priorities for its cooperation with Senegal, the EIB will focus on climate action, sustainable development and tackling the health and economic impact of COVID-19. A year ago President Macky Sall and I opened the Africa Day in Dakar. This enabled the sharing of best practice in sustainable urban development with stakeholders and city leaders from across Africa. Cooperation between Senegal and the European Investment Bank, as part of Team Europe, will strengthen investment ties and ultimately improve lives,” said Werner Hoyer, President of the European Investment Bank.
Last year the EIB approved EUR 231 million of new support for public and private investment in Senegal, including support to improve public health, access to microfinance, water and waste services and backing economic resilience to COVID-19. As part of Team Europe the EIB is also backing COVAX that is set to provide 1.3 million COVID vaccines to Senegal following delivery of the first 324,000 doses in Dakar in March.
Senegal leading green investment best practice in Africa
Last month the EIB and Portuguese EU Presidency hosted the Dakar Green Talk, which brought together more than 200 sustainable investment experts to share best practice and highlight how to maximise the impact of green and digital investment in Africa.
Dakar was the first of 25 cities across Africa and Europe to host a Green Talk ahead of the High-Level EU-Africa Green Investment Forum being held in Lisbon on 23rd April in Lisbon.
Supporting economic resilience to COVID and vaccines for Senegal
Senegal was the first country in Africa to benefit from the EIB’s rapid response to address the impact of COVID-19 in Africa following high-level discussions in the first weeks of the COVID-19 pandemic.
Together with experts from the Senegalese government and the EU Delegation in Dakar the EIB designed a targeted financing programme that forms a key component of Senegal’s comprehensive response to the pandemic. The CFAF 49 billion EIB support is helping banks to provide loans to businesses that hardest hit by COVID-19, in sectors such as fishing, agriculture, tourism, manufacturing and retail and contribute to the efforts of the Government of Senegal to respond to the uncertainty and shocks resulting from COVID-19.
The EIB is also backing the global COVAX initiative that delivered the first COVID-19 vaccines to Senegal in March.
Last year approved a EUR 20 million loan to further develop private sector COVID testing and strengthen health resilience across Senegal in partnership with the Pasteur Institute in Dakar. Details are expected to be finalised in the coming weeks.
Enhancing access to water and waste services across the country
In February the EIB confirmed CFAF 75 billion (€114.5 million) of new support to strengthen drinking water supply in towns to the cities of Saint-Louis, Kaolack and Kolda, alongside improving waste management in cities and cities across the country including Saint-Louis, Podor, Matam, Thiès, Mbour, Ziguinchor, Kolda and Sédhiou.
This will ensure that 634 000 people, will have adequate access to drinking water and provide subsidies water connections for 350,000 more.
EIB backed urban waste management investment, the EIB’s first operation in the sector in Senegal, will benefit 3.2 million people, 20% of the Senegalese population, and support the government’s Zero Waste programme.
Building on 55 years of EIB engagement in Senegal
The EIB has supported water, clean energy, health, digital and microfinance projects across Senegal since 1966.
EIB-backed investment in recent years has helped to connect rural communities to the SENELEC electricity network and increased access to finance by smallholders and entrepreneurs in cooperation with Baobab Senegal.
The EIB is currently examining possible financial and technical support for youth employment, microfinance, digital connectivity,agriculture, sustainable urban transport and rural electrification investment in Senegal.
Senegal a leading partner for EIB engagement in Africa
In 2020 the EIB provided 4.7 billion for new investment across Africa, including 71% in fragile and vulnerable regions.
Amadou Hott, Senegalese Minister of the Economy, Planning and Cooperation, President of the European Investment Bank (EIB) Werner Hoyer and EIB Vice-President Ambroise Fayolle today formally agreed new financial support of CFAF 75 billion (€114.5 million) for the Republic of Senegal. This new funding is aimed at improving the drinking water supply and promoting integrated solid waste management.
Ambroise Fayolle, Vice President of the European Investment Bank, will make a two-day visit to Senegal this week. The visit is expected to include discussions with H.E. Macky Sall, President of the Republic of Senegal, local business and financial partners and diplomats on recent EIB backing for sustainable transport, water, energy, agriculture and private sector investment in the country and future plans to support renewable energy projects.
Amadou Hott, Senegalese Minister of the Economy, Planning and Cooperation, and Ambroise Fayolle, EIB Vice-President responsible for Africa, today formally agreed a CFAF 49 billion concessional loan to the Republic of Senegal. It comes on top of a CFAF 200 billion financing mechanism established by Macky Sall, President of the Republic of Senegal, as part of the country’s Economic and Social Resilience Programme.