DAKAR, Senegal (XOL Africa) — The African Development Bank Group has approved CFA20 billion ($33 million) in financing to support Senegal’s economic reform programme, strengthen public finance management and improve the country’s investment climate.
The Bank’s Board of Directors approved the financing on July 17, 2026, in Abidjan, as part of efforts to help Senegal improve fiscal sustainability, increase domestic revenue mobilisation and attract greater private sector investment.
The funding will support the second phase of the Institutional Support Project for Resource Mobilisation and Investment Attractiveness (PAIMRAI), designed to help the Senegalese government create additional fiscal space to finance development priorities and accelerate the implementation of Senegal Vision 2050, the country’s National Development Strategy for 2025–2029.
“Through this operation, the African Development Bank reaffirms its commitment to standing alongside Senegal to consolidate economic reforms, strengthen domestic resource mobilisation, and create the conditions for more resilient growth driven by a more dynamic private sector,” said Wilfrid Abiola, head of the African Development Bank Group’s country office in Senegal.
The project will focus on improving public finance governance through modernisation of tax administration, stronger public debt management and improved efficiency and quality of government spending.
The initiative will also support reforms recommended following the Court of Auditors’ review of Senegal’s public finances covering the period from 2019 to March 31, 2024.
The reforms aim to restore confidence in public financial management, improve fiscal transparency and strengthen accountability in the implementation of government policies.
Beyond public finance reforms, the African Development Bank said the programme will support Senegal’s private sector competitiveness by improving the business environment, encouraging entrepreneurship and increasing investment opportunities across key economic sectors.
The project will include targeted measures to strengthen the capacity of small and medium-sized enterprises (SMEs), as well as businesses led by young people and women.
The Bank said the financing aligns with Senegal’s economic transformation priorities and its strategic vision based on the institution’s Four Cardinal Points, which focus on sustainable development, inclusive growth and resilience.
The operation is also expected to improve Senegal’s access to capital markets through stronger debt management practices and enhanced capacity to mobilise climate finance.
The African Development Bank said the support will contribute to building a more resilient Senegalese economy driven by stronger institutions, private sector growth and improved governance of public resources.
