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Senegal: AfDB grants 22.5 million euros to BNDE

The National Bank for Economic Development (BNDE) and the African Development Bank (AfDB) signed a financing agreement of 22.5 million euros, on Thursday, November 255, 2021, at the premises of the Ministry of Economy, Planning and Cooperation.

This meeting was chaired by Mr. Amadou HOTT, Minister of Economy, Planning and Cooperation in the presence of Mr. Mohamed CHERIF, “ Country Manager ” of the African Development Bank and Mr. Thierno Seydou Nourou SY, Director General of the BNDE.

This financing agreement is part of a partnership between the two banking institutions which aims to better support BNDE in supporting the economic development of Senegalese companies. Indeed, this line of credit agreement will support Small and Medium Enterprises (SMEs) through the establishment of financing intended for transformation and industrialization within the framework of the agricultural value chain.

This line, whose maturity is six (06) years, also aims to create more than a thousand (1000) direct jobs in rural areas, mainly for young people and women.

The African Development Bank and the National Bank for Economic Development, faithful to their mission as development banks, thus demonstrate their willingness to support the Senegalese economic sector in finding the financing necessary to achieve growth objectives.

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