AfDB Backs Senegal Reforms with CFA 20 Billion Package

The capital injection serves as the second phase of the Institutional Support Project for Resource Mobilisation and Investment Attractiveness (PAIMRAI). Authorities plan to channel these resources into modernizing tax administration and refining public debt management. These structural adjustments follow a critical audit by the Court of Auditors, which scrutinized financial oversight between 2019 and early 2024. The initiative seeks to restore institutional credibility and tighten accountability across government departments.

Wilfrid Abiola, head of the AfDB country office, noted the funding reinforces Senegal’s capacity to drive revenue collection and foster a more resilient, private sector-led economy. Beyond macro-fiscal adjustments, the program targets the grassroots of the economy. Small and medium-sized enterprises, particularly those spearheaded by women and young entrepreneurs, will receive specific capacity-building support to sharpen their competitive edge. By streamlining the business environment, the government intends to broaden access to capital markets and improve the efficacy of climate finance mechanisms, ultimately anchoring the country’s long-term economic strategy.