Policy Update

European Investment Bank to provide US$84 million in concessional loan to Senegal to support businesses hardest hit by COVID-19

The European Investment Bank (EIB) and Senegal agreed on a fast-tracked concessional loan of €75 million (US$84 million), blended with a €6 million (US$7 million) EU-backed grant, to help banks provide loans to Senegalese businesses most exposed to the impacts of the COVID-19 crisis.

This loan, which is the first in Africa through the EIB’s accelerated COVID-19 economic resilience response package, will target sectors like fishing, agriculture, tourism, manufacturing, and retail. 
Press release - European Investment Bank