Coronavirus: World Bank approves funding to help Senegal deal with COVID-19

22 Juin 2020

Dakar, Senegal, June 22 (Infosplusgabon) -  The World Bank's Executive Board on Tuesday approved US$100 million in funding from the International Development Association (IDA) to help Senegal cope with the socio-economic impact of coronavirus (COVID-19), according to an official statement, obtained on Friday evening.

"With this funding, we are helping Senegal prepare for its post-COVID recovery. The aim is to safeguard the livelihoods of the most vulnerable populations who have suffered the most from the pandemic and to promote opportunities through better access to electricity and information and communication technology services," World Bank Director of Operations for Senegal, Nathan Belete, said in the statement.

This amount, which will be paid in "one tranche", consists of a donation of US$50 million and US$50 million in the form of a concessional credit.

Estimated at 60.348 billion CFA francs, it supports the budgetary resources of the State of Senegal to mitigate the effects of COVID-19.

"Once the crisis has passed, growth is expected to gradually recover thanks to a resurgence of private consumption and rapid growth in investment,"  Markus Kitzmuller, the World Bank's project manager, said.

FIN/ INFOSPLUSGABON/ZTR/GABON2020

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