WASHINGTON, June 13, 2023 - The World Bank approved financial support to the Republic of Senegal in the form of an *International Development Association (IDA) credit in the amount of $300 million in support of public policy reforms that aim at supporting equitable and resilient recovery and stimulating sustainable, inclusive economic growth.
This financing, the second in a series of two Development Policy Operations, is set to enable equitable and sustainable growth by increasing household resilience and productivity, strengthening the transparent and sustainable use of productive resources, and the efficient management of fiscal accounts. The public policy reforms it supports aims at expanding access to healthcare, social protection, and economic opportunities for women in a sustainable and equitable manner; improving debt management and the mobilization of tax revenues; and boosting the financing and competitive participation of Senegal's private sector in the digital and energy sectors.
*ABOUT IDA: The World Bank’s International Development Association (IDA), established in 1960, helps the world’s poorest countries by providing grants and low to zero-interest loans for projects and programs that boost economic growth, reduce poverty, and improve poor people’s lives. IDA is one of the largest sources of assistance for the world’s 76 poorest countries, 39 of which are in Africa. Resources from IDA bring positive change to the 1.6 billion people who live in IDA countries. Since 1960, IDA has supported development work in 113 countries. Annual commitments have averaged about $21 billion over the last three years, with about 61 percent going to Africa.
