ADFD funds major roads in Senegal
ADFD will provide $14m loan to improve infrastructure
Abu Dhabi Fund for Development (ADFD) is to provide a $14m (AED53m) loan to improve the infrastructure sector in Senegal.
The loan will be used to fund major roads and some related tracks in the country. ADFD’s efforts are targeted towards enhancing the performance of key economic sectors in the country, and improving overall living conditions.
Mohammed Saif Al Suwaidi, director general of ADFD, said: "This agreement reflects the keenness of ADFD since the beginning of its activities in the Republic of Senegal to play an active role in supporting the efforts of the Senegalese government to improve the infrastructure sector, as this is the mainstay of economic and social development, and the strong foundation for the growth of various sectors."
The agreement was signed by Al Suwaidi and Mohamadou Mactar Cisse, Minister of Budget in Senegal.
Cisse said: “The financial loan provided by ADFD will effectively contribute to supporting the efforts of Senegalese government to achieve a comprehensive development, as the constructing of the sophisticated network of road would help in activating the economic movement in Senegal, not only by facilitating the movement of people, but also through the recovery of major economic activities such as agriculture, fishing, tourism and facilitate the transport of products to domestic and international markets."
ADFD has offered almost $38m (AED140m) in loans since 1978. The three loans have been allocated for developmental projects targeting the agriculture and water sectors.