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New funding has been approved for the construction of a 200km highway between Dakar and Saint-Louis, connecting Senegal’s capital city to its centre for sugar production, and planned hub for offshore gas exploitation
New funding has been approved for the construction of a 200km highway between Dakar and Saint-Louis, connecting Senegal’s capital city to its centre for sugar production, and a planned hub for offshore gas exploitation. Saint Louis, will get a € 166.36 million loan from the African Development Bank (AfDB) against a project cost of US$870 million. The loan from AfDB will cover 37% of the project’s estimated cost. The Islamic Development Bank committed US$ 270 million last February as the largest lender for this vital project.
The West African Development Bank, the Saudi Fund for Development, and the OPEC Fund for Development have also committed US$ 41 million, US$ 63 million, and US$ 64.73 million respectively.
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Other institutions, including The Arab Bank for Economic Development in Africa, the ECOWAS Bank for Investment and Development, and the Kuwait Fund for Arab Economic Development, are also expected to announce their support for what will be Senegal’s fourth highway, giving the country 558km of high-speed roads.
