Riyadh, Kingdom of Saudi Arabia, 11 November 2023 – Senegal's Minister of Economy, Planning, and Cooperation, H.E. Mr. Doudou KA, and the President of the Islamic Development Bank (IsDB), H.E. Dr. Muhammad Al Jasser, have signed a financing agreement for the supplementary funding of the second phase of the Dakar Regional Express train (TER). The signing ceremony took place in Riyadh, the capital of Saudi Arabia.

The financing agreement, totaling EUR 40.25 million, plays a crucial role in enhancing the public transport infrastructure of the Dakar metropolitan area. The project aims to reduce travel time between Dakar City Center and Blaise Diagne International Airport (AIBD) from 1.5 to 0.5 hours. Additionally, it is anticipated to contribute to an estimated annual reduction of 17,000 tons of CO2 emissions and create the capacity to accommodate over 10 million passengers annually.

IsDB had previously approved EUR 300 million for the completed first phase of the project (Dakar-Diamiandio, spanning 36 km). This new supplementary financing of EUR 40.25 million complements the existing EUR 100 million for the second phase of the project (Diamiandio–Dakar Int’l Airport, covering 19 km).

Dr. Al Jasser congratulated Minister Doudou KA on his recent appointment and expressed satisfaction over the partnership with Senegal, highlighting the successful realization of projects with significant development impacts on the population. He then reaffirmed IsDB’s ongoing support for the country.

The minister conveyed H.E. President Macky Sall's appreciation for IsDB's support in financing crucial projects essential to improving Senegal’s economy and infrastructure. "The IsDB has played an instrumental role in advancing Senegal's vision of 'Emerging Senegal 2035,' and we hope for the continuation of this productive partnership, particularly in significant initiatives like the Agropole Nord Project," stated H.E. Doudou KA.

Dr. Al Jasser provided the minister with an overview of IsDB's financing for the agricultural sector across various member countries, emphasizing the sector’s role as the backbone of any economy. He illustrated this with examples such as IsDB's financial support for the Special Agro-Industrial Processing Zones in Nigeria, the regional rice value chain project spanning multiple countries in Africa as well as the cassava value chain.

The two leaders recognized the steady growth in cooperation between the two sides and agreed on the imperative to expedite implementation, ensuring the timely completion of projects to fully harness the advantages of development and to increase the disbursement rate of the project portfolio. Additionally, The Minister conveyed that the Government is finalizing the 5-year Priority Action Plan –3 (2024-2028), which will incorporate the establishment of a delivery unit in each Ministry to monitor the timely and effective implementation of the Action Plan.