BOAD signs two loan agreements with the Government of Senegal for a total amount of XOF48.5 billion.

DSC_7015Lomé, 26 January 2018. Mr. Christian Adovelande, President of the West African Development Bank (BOAD) and Mrs. Bineta Sambe Ba, Ambassador of Senegal to Togo, have signed two loan agreements under which BOAD will grant a XOF48.5 billion loan facility to Senegal for the partial financing of its 2017-2019 periodic road maintenance program as well as the rehabilitation and expansion of village irrigation systems in Donaye-Diattar, Guede, M’Boyo and Podor.

The 2017-2019 periodic road maintenance program has two components: (i) periodic maintenance of approximately 772 km of paved roads and (ii) widening and strengthening of the Kaffrine-Mbacké and Fatick-Foundiougne-Passy roads over a distance of 167km. The Bank will finance the second component of the program, which will involve works aimed at strengthening and maintaining the two major roads in a good condition. The project will also (i) improve the mobility of people and goods; (ii) create jobs; (iii) improve the environment and living conditions of the project beneficiaries; and (iv) create additional wealth. This project is consistent with ongoing initiatives at Community level, including the road maintenance study funded by BOAD in 2015 and the strategy adopted by WAEMU to strengthen road maintenance mechanisms in WAEMU countries, with a XOF30 billion loan facility from the Bank.

The rehabilitation and expansion of village irrigation systems in Donaye – Diattar, Guédé, Mboyo and Podor in the Podor Department (PREPIV PODOR) will make it possible: (i) to increase the supply of cereal and horticultural products in the Podor Department, with an increase in the production of paddy rice by 30,000 tons, maize by 2,000 tons and market gardening products by 13,000 tons; (ii) create sustainable agricultural employment in the Department; (iii) improve farmers’ incomes by at least 50% in the peak year on the developed sites and living conditions of the populations, and (iv) ensure sustainability of irrigated lands and improved production through capacity building for farmers organizations. This project is therefore vital for socio-economic inclusion, reduction of inequality and social cohesion. Its main beneficiaries are populations in the 22 villages of Guédé village, Gamadji Sarre, Ndiayenne Pendao and the Thioffy district of Podor. It will also address the specific needs and concerns of women and youth in the regions concerned. The Bank is providing financing of about XOF18.5 billion.

This loan facility brings to XOF694.67 billion the total amount of BOAD’s commitments in Senegal for all sectors, including XOF146.8 billion for the rural development sector and XOF232 billion for the transport infrastructure sector.

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