The African Development Bank Group (AfDB) has approved 20 billion CFA francs in financing to help Senegal accelerate economic reforms, strengthen public finance governance, and improve conditions for private sector-led growth. The funding was approved by the Bank’s Board of Directors on 17 July 2026 in Abidjan.
The financing will support Senegal’s efforts to improve fiscal sustainability, increase domestic resource mobilisation, and attract greater private investment as part of the country’s broader economic transformation agenda. The operation will contribute to the implementation of the second phase of the Institutional Support Project for Resource Mobilisation and Investment Attractiveness (PAIMRAI).
The project is designed to help the Senegalese government create additional fiscal space to finance development priorities and advance the objectives of Senegal Vision 2050 and the National Development Strategy 2025–2029.
According to Wilfrid Abiola, head of the African Development Bank’s country office in Senegal, the support reflects the Bank’s commitment to helping the country strengthen economic reforms, improve domestic revenue generation, and build a more resilient economy driven by a dynamic private sector.
A key focus of the programme will be improving public finance management through the modernization of tax administration, stronger public debt management, and increased efficiency and quality of government spending. These reforms are expected to enhance transparency, accountability, and confidence in public financial systems.
The initiative will also support reforms following findings from the Court of Auditors’ audit of Senegal’s public finances covering the period from 2019 to March 31, 2024. The measures aim to restore credibility in financial management, reinforce fiscal stability, and improve the effectiveness of public policies.
Beyond public finance reforms, the programme will strengthen Senegal’s private sector competitiveness by improving the business environment, encouraging entrepreneurship, and increasing investment opportunities across economic hubs. It will also support capacity building for small and medium-sized enterprises (SMEs), young entrepreneurs, and women-led businesses.
The African Development Bank’s financing aligns with Senegal’s national development priorities and the Bank Group’s strategic vision. The initiative is expected to improve Senegal’s access to capital markets through better debt management and enhanced capacity to leverage climate financing opportunities.
Through this investment, the AfDB aims to support sustainable economic growth, stronger institutions, and a more inclusive private sector that contributes to Senegal’s long-term development goals.
