|Approval Date||29 May 2020|
|Signature Date||04 Jun 2020|
|Planned Completion Date||31 Dec 2020|
|Last Disbursement Planned Date||30 Jun 2021|
|Sovereign / Non-Sovereign||Sovereign|
|DAC Sector Code||11330|
The present intervention relates to award of a loan of EUR 88 million from African Development Bank (AfDB) resources to finance the Emergency COVID-19 Response Support Programme (PUARC) in Senegal. It is crisis response budget support as defined in the COVID-19 Rapid Response Facility (CRF). As of May 14th, 2020, the country had 2105 confirmed cases, of which 21 died and 782 were cured. The first case was reported on 2 March 2020 and since then the curve has been rising with the first death recorded on 31 March 2020. Given the current context of a growing epidemic in the country, and a world economy brought to a halt by the pandemic, Senegal has requested for Crisis Response Budget Support (CRBS). The operation aims to support social response and contribute to the mitigation of macroeconomic risks engendered by the COVID-19 pandemic. PUARC is aligned with the Economic and Social Response Plan (ESRP) deployed by the authorities to address the health, social and economic aspects of the crisis.
This operation has a dual objective, namely: (i) support the social response phase and (ii) contribute to the mitigation of macroeconomic risks. The project is based on two components, namely: (i) support for health response and community resilience and (ii) mitigating macro-economic risks.
The programme is expected to directly benefit one million households through food distribution kits. It will also benefit 975,000 households through the payment of electricity bills and 670,000 households through the payment of water bills. Ultimately, the most vulnerable Senegalese households are expected to experience income stabilisation. Meanwhile, the economic measures should safeguard jobs and enable businesses to quickly resume activities as soon as the crisis eases.
African Development Bank
GOUV. DU SENEGAL /MINISTERE DE L'ECO. DES FINANCES ET DU PLAN
|Last Update||07 Aug 2020|