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AfDB announces a 60 billion CFA francs loan to fund water and sanitation project in Senegal
On 22 May 2014, the African Development Bank (AfDB) announced a loan of 60 billion CFA francs (approximately US $127 million) to Senegal for a water and sanitation project. The aim of the project is to make the sector more viable and improve socio-economic conditions for the Senegalese population.
The loan agreement was signed on Thursday, May 22 by Amadou Ba, Senegalese Minister of the Economy and Finance, and Aly Abou-Sabaa, Sector Operations Vice-President, AfDB, during the AfDB's Annual Meetings in Kigali.
Ba expressed his delight at the AfDB's support for Senegal. He explained that this is the third such loan to be allocated under the Millennium Water and Sanitation Program (PEPAM). He added that AfDB is now the leading contributing institution to the country's water and sanitation sector as a result of this loan. "The AfDB is Senegal's key partner," stated Ba.
According to Abou-Sabaa, the provision of sustainable drinking water and sanitation to towns and villages across Africa is one of the AfDB's core priorities. "Water remains the most critical resource for human survival," he explained. "This is why the Bank is committed to ensuring that each and every household across Africa has reliable access to water."
"By helping us to provide water and sanitation to the target regions, the AfDB is supporting our efforts to reduce social tension in these localities and to meet some of the Millennium Development Goals," added Ba.
Link: Annual Meetings Website