Senegal secures US$138m from EIB to improve supply of drinking water

SENEGAL – The European Investment Bank (EIB) is set to provide US$138.39 million (€114.5 million) in financial support to improve the drinking water supply and promote integrate solid waste management in Senegal.

The support will strengthen the country’s resilience to the ongoing COVID-19 pandemic and other future pandemics as climate change exacerbates the urgency of the situation.

By focusing on secondary cities, the Bank is supporting Senegal’s efforts to achieve balanced development across the country, reducing geographical disparities to ensure greater regional equity.

Sustainable cities are an absolute necessity given the country’s rapid urbanisation and high population pressure.

“The long-standing partnership between Senegal and the EIB, spanning more than 55 years, has secured long-term investment that is helping to improve lives and increase economic opportunities across our country,” Amadou Hott, Senegalese Minister of the Economy, Planning and Cooperation.

“We know that we can count on the EIB’s support to implement the government’s priorities for the second phase of the Emerging Senegal Plan. In particular, we would like to thank the EIB for the emergency operational measures it has taken in response to the COVID-19 crisis.

“The Bank’s additional funding has enabled the government to free up the financing capacity it needs in this pandemic.”

EIB President Werner Hoyer says the Bank has responded to the global crises with four COVID-19 operations in 2020 totalling nearly €210 million and covering all aspects of resilience in Senegal (health, economy, social and environment), including the two water and waste management operations.

“Internationally, the COVAX initiative for equitable global access to COVID-19 vaccines is supported by Team Europe through a US$483.4 million (€400 million) loan from the EIB and a US$120.8 million (€100 million) grant from the European Union,” said Hoyer.

“In practice, this means that 1.3 million doses will be delivered to Senegal. On 19 February 2021, the European Union and the EIB announced their intention to double their contribution to the COVAX initiative to US$1.208 billion (€1 billion).”

EIB Vice-President Ambroise Fayolle pointed out the agreement to back the sustainable development of secondary cities in Senegal comes a year after EIB’s Africa Day 2020, which was held in Dakar under the theme sustainable cities.

“Six months ago, the tragic floods in Senegal illustrated the country’s vulnerability to extreme weather events and the need for an integrated approach covering both water and solid waste,” said Fayolle.

“Today, the EIB’s fresh support for these two sectors is helping to preserve the environment and strengthen the country’s resilience to the pandemic and climate change.”

Both projects will help strengthen the country’s resilience to the ongoing pandemic and other future pandemics, particularly for vulnerable populations in suburban areas.

Women responsible for domestic tasks related to waste and water will be among the beneficiaries as they make up a large number of waste-pickers, while access to water will preserve their privacy and increase the number of girls in education.

Liked this article? Subscribe to DealStreet Africa News, our regular email newsletter with the latest news, deals and insights from Africa’s business, economy and more. SUBSCRIBE HERE

Other Recent Posts

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.