Senegal: the African Development Bank grants a loan of nearly 87 million euros to Agropole Nord

by MMC
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Meeting in Abidjan on Wednesday, November 22, 2023, the Board of Directors of the African Development Bank Group (www.AfDB.org) approved a loan of 86.89 million euros to Senegal to develop an agri-food processing zone in the north of the country.

The Bank’s contribution represents 30.7% of the total estimated cost of the project, estimated at €283.05 million. The Islamic Development Bank (21.2%), the West African Development Bank (15.9%), Sponsor Dette (19.3%) and Sponsor Equity (7.7%) are the other contributors to the implementation work of the ‘Agropole North Project’, in English. Northern agricultural center project.

The project aims to improve industrial processing capacities for agricultural, forestry, pastoral, fishing products and associated services, while sustainably increasing household income and food security. The Senegalese government contributes 5.2% of the project cost.

The project is one of five integrated and competitive agricultural hubs created by the Senegalese government as part of its Plan for an Emerging Senegal by 2025. It follows earlier approval by the Board of Directors of Agropole projects Sud (Southern Agropole) and Agropole Center (Central Agropole) to cover the regions of Kolda, Sédhiou and Ziguinchor, in the south of Senegal, and the regions of Diourbel, Fatick, Kaffrine and Kaolack, in the center of the country. The project will be implemented by the Senegalese Ministry of Industrial Development and Small and Medium Industries, with the aim of boosting exports and strengthening entrepreneurship.

“The project will promote the emergence of three agro-industry development poles and facilitate the networking of value chain actors,” said Mohamed Chérif, country representative of the African Development Bank in Senegal. “It will serve as a multi-sector platform for the incubation and integration of technologies, equipment and services to support small and medium-sized enterprises, industries and agricultural professional organizations. These centers will help reduce the fragility factors linked to migration and climate change visible in the project area.

The project intervention area covers the regions of Louga, Matam and Saint-Louis, with a combined population of approximately 2.8 million inhabitants. It has significant agricultural, forestry, pastoral and fishing potential and provides more than 80% of national rice production, 90% of its industrial tomato production and 50% of its onion production. With a maritime coastline, the Senegal River and Lake Guiers, the Saint-Louis region produces 122,000 tonnes of fish per year. It is also home to several private investments in the Senegal River valley.

During its implementation, the project will support the emergence of three agri-food hubs through three agri-food parks in the localities of Ogo, Bokhol and Dahra, each measuring approximately 130 to 150 hectares, as well as 14 aggregation and distribution centers. services, all of which will facilitate the networking of value chain actors.

In terms of expected results, Agropole Nord will enable the processing and marketing of some 2.12 million tonnes of agricultural products from its fifth year of operation. In addition to its financial and economic impact, the project should lead to the creation of 129,800 direct jobs in the agricultural, forestry, pastoral and fishing sectors and 298,800 indirect jobs in related services.

As of October 31, 2023, the active portfolio of the African Development Bank Group in Senegal included 35 projects for a total commitment of 1,380 billion FCFA.

Distributed by APO Group for the African Development Bank (AfDB) Group.

Media contact:
Alexis Adele
Department of Communication and External Relations
media@afdb.org

About the African Development Bank Group:
The African Development Bank Group is the leading development finance institution in Africa. It comprises three distinct entities: the African Development Bank (AfDB), the African Development Fund (ADF) and the Nigeria Special Fund (NSF). Represented in 41 African countries, with an external office in Japan, the Bank contributes to the economic development and social progress of its 54 regional member states. For more information: www.AfDB.org

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