Dakar, Senegal, May 10, 2013 – IFC,
a member of the World Bank Group, will further expand its investments in
infrastructure in Senegal, as well as continue advising the government
on public-private partnerships in infrastructure and other sectors, said
Jean Philippe Prosper, IFC Vice President for Sub-Saharan Africa, Latin
America and the Caribbean. On the occasion of his first trip since assuming
his new position, Prosper highlighted the key role of the private sector
in building infrastructure by working alongside national authorities.
During his visit to Dakar, Prosper met several
senior government officials, including President Macky Sall, Prime Minister
Abdoul Mbaye, and Minister of Finance Amadou Kane.
Prosper said: “IFC is committed to helping
Senegal meet its needs for energy, roads and other critical infrastructure.
IFC’s strategy is to increase private capital invested in core infrastructure
projects and so we will work with the government on facilitating public-private
partnerships and reforming the energy framework in Senegal.” Among the
large projects IFC has already invested in are the Kounoune power station
and the Dakar-Diamniadio Toll Road.
Last month, IFC organized with the Ministry
of Finance a week-long seminar on PPP for government officials and IFC
is working with the Ministry of Finance and other partners to identify
priority PPP projects. Similarly, IFC, the World Bank and IMF are working
with the government of Senegal to help reform the national electricity
company of Senegal (SENELEC).
In fiscal year 2012, IFC funding for infrastructure
and natural resources projects in Africa surpassed $1 billion for the first
time. This figure is expected to rise in fiscal year 2013. In Senegal,
IFC’s work focuses on power, with financing to a new power production
project, on investment climate reforms, and on access to finance and capacity
building for SMEs. IFC’s portfolio in Senegal currently amounts to $91
million, including infrastructure development projects, and projects to
facilitate trade and to promote food security.
IFC, a member of the World Bank Group, is
the largest global development institution focused exclusively on the private
sector. We help developing countries achieve sustainable growth by financing
investment, mobilizing capital in international financial markets, and
providing advisory services to businesses and governments. In FY12, our
investments reached an all-time high of more than $20 billion, leveraging
the power of the private sector to create jobs, spark innovation, and tackle
the world’s most pressing development challenges. For more information,