The Government of Senegal has signed a landmark €2 billion agreement with the International Islamic Trade Finance Corporation (ITFC) to bolster development across critical sectors of the economy.
The 2025–2029 framework agreement was formalized by Senegal’s Minister of Economy, Planning, and Cooperation, Abdourahmane Sarr, and ITFC Director General Adeeb Y. Al Aama during the Islamic Development Bank (IDB) Annual Meetings in Algiers, held from May 19 to 22.
The partnership aims to reinforce ITFC’s support for Senegal in areas including energy, agriculture, healthcare, and private sector development, with a strong focus on promoting sustainable job creation.
Since its inception in 2008, ITFC has approved 27 financing projects in Senegal worth a total of $1.9 billion—mainly targeting agriculture (notably groundnut production), fuel supply stabilization for the national electricity company Senelec, and private sector growth.
This latest agreement aligns with Senegal’s new public policy framework under the “Senegal 2050” transformation agenda and signals a deepening of cooperation under the country’s new leadership.
