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Senegal - Project To Support And Promote Women’s And Youth Entrepreneurial Initiatives: PHASE I (PAVIE I) - Project Appraisal Report

30-Jan-2020

The overall objective phase I of the Project to Support and Promote Women’s and Youth Entrepreneurial Initiatives (PAVIE I) is to support job creation for young people and women by promoting entrepreneurship. Specifically, it will help to promote entrepreneurial initiatives among women and young people by providing (i) access to financing and (ii) trades-related and business management technical support for entrepreneurs, with a view to ensuring the viability and sustainability of their enterprises. Its total cost of UA 90.55 million will be financed through a French Development Agency (ADF) loan of UA 10 million, an AfDB loan of UA 39 million (EUR 48.828 million), a co-financing of UA 15.97 million (EUR 20 million) from AFD and Government counterpart funding of UA 25.58 million (CFAF 21 billion). The three-year project designed based on a demand-driven approach and implemented in coordination with the private sector, in particular banks and microfinance institutions will help to finance women's and young people's entrepreneurial initiatives throughout Senegal while providing for trade-related and business management technical support. In the long term, the project will help to: (i) to finance more than 14,000 entrepreneurial initiatives, for a financing volume of about CFAF 61 billion or UA 80 million; (ii) to generate or consolidate approximately 65,000 direct jobs and 89,000 indirect jobs, for a total of 154,000 jobs, 60% of which will be for women; (iii) to train more than 27,000 entrepreneurs, more than 15,000 or 55% of whom will be women; and (iv) to support the digital transformation of 2,200 enterprises and formalize 3,500 others, 50% of which will be headed by women. The project will set up a monitoring and support system for supported initiatives to avoid diversion of the objectives, as well as a geo-localized system for investment monitoring.

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