Senegal Gets AfDB’s Loan

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The Board of Directors of the African Development Bank (AfDB) has approved a loan of €88 million for Senegal, hit hard by the coronavirus pandemic. The fund is to support the country’s national COVID-19 Economic and Social Resilience Program.

The financing, which falls under the Bank’s COVID-19 Rapid Response Facility, would provide the nation with an emergency budget support program (PUARC) aiming to address the health, social and economic impacts of the crisis.

The operation would target support measures providing relief to the most vulnerable households, while safeguarding jobs and enabling businesses to quickly resume.

The operation would help strengthen the health contingency action plan through support to patient case management and care facilities with the construction of three new Epidemic Treatment Centers (ETCs), the upgrading of 7 others, as well as improving capacities of the intensive care units. PUARC will also support the distribution of food kits and the payment of the electricity and water bills for vulnerable households.

These emergency measures should enable both rural and urban households to make up for the loss of income caused by the pandemic and boost existing measures, such as cash transfers for the poorest.