Abu Dhabi Development Fund finances development projects worth $65.6mln in Senegal

The fund has supported 40 African countries over the four past decades


ABU DHABI - Abu Dhabi Development Fund, ADFD, has maintained close ties with the Senegalese government since 1978 when it began supporting development plans and programmes to achieve sustainable economic development in the West African country.

The fund has supported 40 African countries over the four past decades by financing development and investment projects worth AED24.6 billion, he added, pointing out that Senegal is among the African countries supported by the fund.

He also noted that the ADFD has provided concessionary development funds worth AED241 million to finance sustainable development projects in key sectors in Senegal, which have achieved positive results and contributed to the country’s economic advancement and social development.

Al Suwaidi further added that ADFD is considering financing development and investment projects prioritised by the Senegalese government, as part of its policy to achieve sustainable development in developing countries.

In 2018, ADFD financed a solar energy plant project worth AED48 million to support the efforts of the Senegalese government to provide electricity to 100 rural villages in Senegal, which benefited 80,000 people and provided electricity to 150 health centres and 200 schools.

In 2014, ADFD contributed to funding Senegal’s National Road No.2 (Ndioum – Ourossogui – Bakel) project. ADFD, one of the key financiers of the 336-km long infrastructure project, allocated a concessionary loan of AED53 million. The 50km long road section directly benefited 600,000 residents. Furthermore, the overall project reinforced the Senegalese national strategy and stimulated socio-economic growth in the country, specifically improving transportation infrastructure, reducing travel time and helping curb high vehicle repair costs as a direct fall-out of accidents on ill-constructed roads.

In 1978, ADFD supported the feasibility study for financing the Kamobeul Dam with AED4 million which aimed at protecting arable land close to Cazmans River from salinity during seasonal droughts.

The Agricultural Development Project in Matam, funded by the ADFD in 1986 with a total budget of AED37 million, increased the agricultural production in the Senegal River basin by cultivating 2,017 hectares of land in four areas. The project reclaimed 600 hectares of arable land and provided irrigation systems to rehabilitated areas of 544 hectares.

In 1982, the fund helped finance the Senegal River Development Project with an AED99 million budget, which included the construction of Diama Dam on the estuary of the Senegal River, as well as a dam in Mali on the Bani River, which helped achieve water security and increased crop diversity.

© Copyright Emirates News Agency (WAM) 2020.

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