The World Bank announced on Tuesday the approval of $115 million in concessional financing to help Senegal improve its public debt sustainability, strengthen public financial management, and increase domestic resource mobilization. This support, provided through the International Development Association (IDA), is part of the 2025-2029 Program for Transparency in Public Financial Management and Fiscal Consolidation (SEN-FINTRAC), aligned with the country's Vision 2050.

Called the Senegal Fiscal Sustainability Strengthening Program (SEN-FISCALE), this initiative reflects a strengthened partnership between the Senegalese government and the World Bank. It aims to support critical reforms for inclusive growth, improved public service delivery, and increased resilience to economic and climate shocks. “We welcome the government’s strong commitment to debt transparency and effective public financial management. This initiative supports Senegal’s ambition to build a more transparent, accountable, and resilient public financial management system,” said Keiko Miwa, World Bank Division Director for Senegal.

The program targets three key areas:

- Public financial management : Deployment of a modern financial management system and increased use of electronic tools for procurement, improving the efficiency and transparency of expenditure.

- Public debt sustainability : Establishment of a unified debt recording system for more transparent and consolidated management.

- Mobilization of domestic resources : Modernization of tax and customs administration, including electronic invoicing for VAT and performance-based approaches, supported by digital transformation for real-time monitoring.

These efforts are part of the government's broader agenda, including the RESET (Reforms for Economic Stabilization, Transformation and Transparency) funding series.

The $115 million is broken down into: $105 million results-based, to finance concrete reforms; $10 million technical assistance, dedicated to change management, digital transformation and institutional capacity building.