|Approval Date||10 Sep 2012|
|Signature Date||31 Oct 2012|
|Planned Completion Date||30 Sep 2019|
|Last Disbursement Planned Date||30 Sep 2019|
|Sovereign / Non-Sovereign||Sovereign|
|DAC Sector Code||15124|
The Private Sector Promotion Support Project (PAPSP) aims at consolidating institutional reforms and learning outcomes in order to improve business environment, promote and develop Small and Medium Enterprises (SMEs). This is an institutional support that will contribute particularly to the implementation of the Bank's Economic Reform Budget Support Program called “PARE”. This project was initiated in a context where Senegal is faced with many challenges for the development and the promotion of SMEs, namely: (i) the early mortality rate of enterprises (about 60% during the first year of creation); (ii) the predominance of the informal sector and the lack of professionalism; (iii) the difficulty of access to the public order; (iv) the weakness in financial information; and (v) the difficulty of access to bank financing adapted to SMEs. In order to meet these challenges, two operational components have been defined and factored into the project’s framework. Those are: (1) support for improving services to SMEs; (2) support to management structures and assistance to SMEs. The project’s total cost is estimated at UA 4.5 million, of which UA 1.83 million in foreign currency (40.6%) and UA 2.67 million in local currency (59.4%).
The overall goal of the project is to contribute to the improvement of financial governance and business climate in the context of a sustainable and sustained growth, based on the private sector. The specific objectives of the project are: (i) support improved services to SMEs and (ii) promote SME development.
The main beneficiaries of the project are: (i) administrations by improving the institutional capacity of structures in charge of promoting and developing SMEs; (ii) the private sector as a whole and SMEs in particular, by strengthening their capacity to improve their economic and financial performance, and (iii) the Senegalese population through improved contribution of SMEs to economic wealth and job creation.
African Development Fund
Direction d’Appui au Secteur Privé (DASP) / Ministère de l’Economie et des Finances (MEF)
|Last Update||12 Jul 2020|