07.06.2011, Jeddah, KSA – The Republic of Senegal and the Islamic Development Bank signed two agreements for US$ 29 million for financing two projects for the second phase of a small irrigation project and urban solid waste management. These projects are expected to combat poverty and achieve food security as well as facilitate environmental protection respectively.
At the signing ceremony, Senegalese Minister of State for International Cooperation, Oil and Air-transport stated that the signing marks the opening of a new horizon in cooperation between Senegal and the IDB, and that “there are plans for a US$ 100 million agreement with the IDB for upgrading the power generation grid in Senegal to reach 70 megawatts”. He also added that that IDB’s financings in support of economic and social development in his country for the year 2011 shall reach US$ 250 million whereas the figure was US$ 155 million in 2010.
The IDB President Dr Ahmad Mohamed Ali expressed pleasure over the signing of the two documents with Senegal underlining that these agreements go in line with the resolve of the two sides to fight poverty, promote food security and protect the environment. Dr. Ali recalled the role that Senegal played in putting its weight behind the Islamic Solidarity Fund for Development (ISFD), IDB’s arm for combating poverty. He expressed special thanks and appreciation to Senegalese President and current Chairman of the Organization of Islamic Conference Abdullah Wade for his initiatives in upgrading the Fund’s role and securing its objectives.
The irrigation project is expected to uplift the Senegalese government’s capacity to combat poverty by providing sustainable farming resources in a number of eastern, south- eastern and central parts of the country and thus provide tangible support for food security. The financing for the urban solid waste management program will facilitate indigenization of the technology while providing the infrastructure for solid waste disposal.