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World Bank to support Senegal with $900m

The World Bank has approved additional 900 million dollars to support the Senegal economic plan tagged: “Emerging Senegal Plan.”

Mr Bertrand Badre, the Managing Director and World Bank Group Chief Financial Officer, made the announcement after a three-day visit to Senegal on Friday.

The Senegal Emergent Plan is an economic plan designed by a foreign firm to raise the growth rate of the country to at least seven per cent.

The plan was presented on Feb. 24 in Paris to Senegal’s financial partners that promised to fund it.

Through the plan, Senegal hopes to become an emerging economy by the year 2035.

An official statistics stated that the total volume of World Bank’s support to Senegal had reached 1.2 billion dollars.

Commenting on the statement, the World Bank’s Resident Representative, Ms Vera Songwe, called for transparency in the utilisation of the loan.

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