- The finances are to fund rural electricity, education, road access, and climate-resilient infrastructure projects in Senegal.
- The project will benefit 1.5 million people by connecting 200,000 dwellings to the electrical grid.
The World Bank has announced $495 million in financing deals for rural electricity, education, road access, and climate-resilient infrastructure projects in Senegal. The COVID-19 epidemic, border closures, and additional restrictions impacted tourism, accounting for 10% of the country’s GDP while delaying significant oil and gas investments by up to eighteen months. As a result, Senegal’s GDP growth was slashed by two-thirds in 2020, but it has since recovered to pre-pandemic levels and is predicted to quadruple in the next two years with new advancements.
The finance will benefit 1.5 million people by connecting an estimated 200,000 inhabitants to the electrical grid. Additionally, as part of Senegal’s national aim of universal access to electricity by 2025, the project will electrify 700 small and medium-sized industries, 200 schools, and 600 health centres. Senegal now has a 78.6% access to electricity rate, which is one of the highest in Africa. However, this distribution, which is over 90% in cities and close to 50% in rural regions, exposes a critical discrepancy that the World Bank is working to address.