Senegal: Reform partnership FZ-ThM programme: MSME promotion II

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The project is part of the G20 Compact with Africa initiative, which aims, among other things, to improve the framework conditions for private investment in the participating African countries. The German government is supporting the initiative through so-called investment partnerships with funding commitments at a bilateral level. One such reform partnership was concluded with Senegal. The country is to be supported in removing obstacles to private sector development and increasing the private sector's contribution to gross domestic product. The program aims to improve sustainable access to needs-based financial services for MSMEs and thus contribute to promoting income and employment in Senegal. The individual module components of the program represent complementary approaches by offering companies of different sizes access to financing through several financial intermediaries. The program is flanked by an accompanying measure to support the financial intermediaries and to accompany selected institutional reforms by the Senegalese government. This tranche will finance the following module component of the program: 1. The second module component comprises a subordinated local currency loan of EUR 1,000. EUR 29 million was allocated to the ALCB Fund with the aim of supporting the development and expansion of the local currency corporate bond market as a viable source of financing for Senegalese companies.