Finance agreement signed for construction of Dakar-Saint-Louis highway
Senegal has received a loan from the Saudi Fund for Development (SFD) totaling $63m for the construction of the Dakar-Saint-Louis highway.
The agreement was signed at the presidential palace in Dakar, the capital of Senegal. This occurred during an official visit by representatives from the kingdom led by Eng. Khalid Al-Fakih, Minister of Investment.
Overview of the proposed Dakar-Saint-Louis highway
This agreement proposes to build a 12km long, two-lane highway with a width of 25.6 meters. The project will include an overhead intersection, rainfall drainage, street lighting, and safety equipment. The Dakar-Saint-Louis highway project will also encourage mutual trade with surrounding nations, and lessen traffic accidents. As well as meet the needs of cities and villages and accelerate Senegal’s economic and social development.
Oulimata Sarr, the minister of economics, planning, and cooperation for Senegal, stressed the importance of the Saudi role in helping development projects and programs in the Senegalese transport and communications sectors, which were represented by SFD. The Dakar-Saint-Louis highway will connect towns and cities while also benefiting many locals by enhancing their social and economic circumstances.
Sultan bin Abdulrahman, CEO of SFD, made it clear that the Dakar-Saint-Louis highway project will have a good effect on daily life. Similarly, it will provide essential infrastructure services, and serve to enhance the social and economic circumstances of people.
Additionally, 27 loans from SFD dating back to 1978 have sponsored 25 initiatives and projects totaling around USD 447 million. The government of the Kingdom gave SFD 4 grants totaling more than USD 19m, which it successfully managed. Senegal received this funding to help a range of enterprises, including those involved in infrastructure, communications, and transportation. As well as health, housing, urban development, energy, education, water, and sanitation. Senegal will realize its goals for progress, wealth, and expansion with the help of the Kingdom.