ADFD loans $15m to Senegal to construct a highway

Abu Dhabi Fund for Development (ADFD) has financed a 336km-long infrastructure project in Senegal, allocating a concessionary loan of $15m (AED53m).

A ceremony was held recently to lay the foundation stone of the National Road No 2 (Ndioum – Ourossogui – Bakel) project, state news agency, WAM reported.

Mohammed Saif Al Suwaidi, director general of ADFD, said: "The government of Senegal’s strategy articulates recovery, growth, long- term development, and infrastructure investments as core priorities.

“ADFD earmarked $15m (AED53m) to fund the development of the Ourossogui - Hamady Ounare Road section - one of four segments of the National Road No 2 initiative."

He added: "The 50km long road section will directly benefit 600,000 residents.”

Pointing out that one of ADFD’s goals is to support governments in achieving their desired development objectives, Al Suwaidi highlighted the high agricultural potential of surrounding areas.

He said the road will play a vital role in alleviating living standards for communities through enabling infrastructure that significantly eases movement of goods and people.

Since 1976, ADFD has allocated concessionary loans worth $54.5m (AED193m) to sustainable development projects in Senegal across key sectors that include, health, transportation, agriculture, and water.