World Bank to Allocate $600 Million to Senegal for Agriculture and Transport Development

 The World Bank will provide Senegal with financing of 340 billion CFA francs (approximately $598.9 million) for projects in agriculture, transport, and strengthening the country's resilience, announced World Bank Vice President for Western and Central Africa Ousmane Diagana following a meeting with Senegalese President Bassirou Diomaye Faye.

"We informed the president that Senegal has received new financing from the World Bank. That is precisely why I am here. An agreement will be signed with the Minister of Budget for the allocation of approximately 340 billion CFA francs," Diagana said, as quoted by SeneWeb.

According to him, the ultimate goal of the financing is to create new opportunities, primarily for youth and women.

Diagana also noted that over the past fiscal year, the World Bank had already disbursed 110 billion CFA francs (more than $193.7 million) to Senegal under programs focused on achieving specific results.

In April, Faye emphasized the need to continue ongoing reforms to maintain economic resilience amid an unstable international environment.