Dakar. The African Development Bank (AfDB) has approved a 20 billion CFA franc ($35.4 million) financing package to support Senegal’s efforts to strengthen public finance management and accelerate key economic reforms, as the West African nation continues to address mounting fiscal challenges.
According to the bank, the funding is intended to improve domestic revenue mobilisation, enhance transparency and accountability in public financial management, and support structural reforms aimed at reinforcing Senegal’s economic resilience. The financing comes at a time when the country is working to restore confidence in its public finances following the disclosure of previously unreported debt obligations.
AfDB said the programme will help Senegal strengthen fiscal governance while creating a more stable foundation for sustainable economic growth and improved public sector performance. The initiative is also expected to support reforms that make government financial management more efficient and transparent.
Wilfrid Abiola, the African Development Bank’s Country Manager for Senegal, said the institution remains committed to supporting the country's reform agenda.
“Through this operation, the African Development Bank reaffirms its commitment to standing alongside Senegal to consolidate economic reforms, strengthen domestic resource mobilisation, and create the conditions for more resilient growth,” Abiola said.
The approval comes as Senegal continues discussions with the International Monetary Fund (IMF) over a new financial assistance programme after its previous credit facility was suspended. Senegalese authorities have maintained that they are pursuing fiscal reforms and debt management measures that avoid a sovereign default while meeting the IMF’s sustainability requirements.
The latest AfDB support underscores the lender’s continued role in helping African economies strengthen governance, improve fiscal discipline and implement reforms designed to promote long-term economic stability.
