European Investment Bank Provides CFAF 75 Billion for Water and Waste Management in Senegal

Strategic Insights -

The European Investment Bank (EIB) has announced a new financial support of CFAF 75 billion (Euros 114.5 million) for the Republic of Senegal, aimed at improving the drinking water supply and promoting integrated solid waste management. This new funding is part of the EIB's long-standing partnership with Senegal, spanning over 55 years, and will focus on secondary cities to achieve balanced development across the country. The project is expected to benefit 634,000 people, with 35,000 connections (or 350,000 beneficiaries) to be subsidised across the country.

Key Takeaways:

  • The EIB has agreed to provide CFAF 75 billion (Euros 114.5 million) for water and waste management in Senegal.
  • The new funding will improve drinking water supply and promote integrated solid waste management, focusing on secondary cities to achieve balanced development across the country.
  • The project aims to benefit 634,000 people, with 35,000 connections (or 350,000 beneficiaries) to be subsidised across the country.
  • The funding is part of the EIB's long-standing partnership with Senegal, spanning over 55 years.
  • The EIB has taken emergency operational measures in response to the COVID-19 crisis, financing 90% of the project costs, compared to the standard maximum of 50%.
  • The project will benefit 20% of the Senegalese population, or 3.2 million people, and is in line with President Macky Sall's zero waste programme.
  • The two projects in Senegal addressing drinking water and solid waste will have an impact on specific initiatives aimed at improving healthcare services, social welfare, and essential supplies needed to fight COVID-19.

Statistics:

  • CFAF 75 billion (£114.5 million) in funding provided by the EIB for water and waste management in Senegal.
  • 634,000 people expected to benefit from the improved drinking water supply.
  • 35,000 connections (or 350,000 beneficiaries) to be subsidised across the country.
  • 3.2 million people (20% of the Senegalese population) expected to benefit from the integrated solid waste management project.
  • 1.3 million doses of COVID-19 vaccines to be delivered to Senegal through the COVAX initiative.
  • Euros 400 million loan and Euros 100 million grant from the EIB and the European Union, respectively, to support the COVAX initiative.

Sources:

  • European Investment Bank press release, Feb. 25, 2021
  • EIB President Werner Hoyer's statement, Feb. 25, 2021
  • EIB Vice-President Ambroise Fayolle's statement, Feb. 25, 2021
  • World Bank, AFD, and AECID reports on Senegal Integrated Solid Waste Management Project (PROMOGED)