Senegal Tourism and Enterprise Development Project

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The development objective of the Tourism and Enterprise Development Project for Senegal is to create conditions necessary to increase private investment in tourism in the ‘Saly’ area, and strengthen enterprise development in Senegal. The project is aligned with the Government of Senegal(GoS)’ goal of ‘making the country an emerging economy by 2035’ as expressed in the first pillar of the country’s strategic plan (PSE):‘Accelerating inclusive growth and creating employment’. This implies improving the investment climate and competitiveness of the Senegalese economy to promote growth, attraction of private investment, enterprise formation and growth, increased exports, and the development of Senegal as a regional tourism hub that would bring increased employment. There are three components. The first component, sustainable tourism development are in line with the GoS’ efforts to address coastal vulnerability under its Integrated Coastal Zone Management (ICZM) plan, which includes strategic measures for better coastal management, fight against coastal erosion, and measures for protecting economic investments. This component will provide support for advisory services, capacity building, destination planning and management activities, resilience measures to minimize coastal erosion due, in part, to climate change, new product and market development, and a mix of destination level investments in the Saly area. The second component, supporting enterprise creation and growth will be to further improve Senegal’s investment climate with a view to establishing relevant business infrastructure to facilitate government-to-business services, enhance access to finance (risk capital), and other business development services. This component aims to contribute to the creation of innovative firms, foster the competitiveness of local enterprises, and improve their ability to strengthen their presence and growth into domestic, sub-regional, and international markets. The third component, project implementation will provide support to agency for promotion of investment and major works to manage and coordinate the project and provide resources to strengthen its capacity on procurement, financial management (FM), coastal management, environmental and social safeguards management, communication, and monitoring and evaluation (M&E) through the provision of relevant advisory services.