Food security and agricultural resilience: around 37.4 billion CFA francs allocated to Senegal

An envelope of 57 million euros, approximately 37.4 billion CFA francs, has been allocated to Senegal by the OPEC Fund for International Development (OPEC Fund) to strengthen food security and agricultural resilience across the country. The announcement was made through a press release from the OPEC Fund published on Wednesday October 14.

The OPEC Fund for International Development (OPEC Fund) has signed a loan agreement of 57 million euros, approximately 37.4 billion CFA francs, with Senegal. The funding goal is to boost domestic food production, strengthen rural livelihoods and help farmers adapt to climate change.

This funding will support, according to a press release from the OPEC Fund made public on Wednesday, a national food security initiative which should benefit around 900,000 people, half of whom are women and the other half young people. The agreement was signed on the sidelines of the annual meetings of the World Bank and the IMF in Bangkok, Thailand.

Also read: Co-investments in rural economies and food systems: the World Bank and IFAD are changing scale

“Food security rests above all on farmers. By improving access to water, modern agricultural methods and markets, we can help rural communities produce more, earn better incomes and be better resilient to climate change. This investment will strengthen Senegal’s capacity to feed its growing population while creating new opportunities for women and youth,” said OPEC Fund President Abdulhamid Alkhalifa.

This funding will support Senegal’s Food Sovereignty Strategy Support Project (PASS), which aims to increase agricultural production and reduce the country’s dependence on food imports.

10 regions affected by the project

Thus, covering 10 of the 14 administrative regions of Senegal, distributed between the peanut basin, eastern Senegal and Haute-Casamance, the project will focus, according to the press release, on irrigation. But also, climate-smart agriculture, better access to agricultural inputs and strengthening links between farmers and local markets.

“This project is expected to improve water management on 1,500 hectares of agricultural land, build or rehabilitate approximately 330 km of rural roads and support more than 2,200 agricultural operations,” we read in the text.

It will also improve food storage and processing infrastructure, helping farmers reduce losses, access more consumers and increase their income.

In reality, this OPEC Fund financing is part of a larger US$266 million project co-financed by the International Fund for Agricultural Development (IFAD) and the Italian Climate Fund (ICF), each contributing US$90 million.

40 loans granted to the Senegalese public sector, or more than 393.8 billion CFA francs

“Agriculture is essential to Senegal’s rural economy and employment, but farmers face growing challenges from climate change, limited irrigation and inadequate market infrastructure. By addressing these constraints, the project will help strengthen local food systems and develop economic opportunities in rural communities,” say OPEC Fund officials.

The OPEC Fund has a long-standing development partnership with Senegal, having approved 40 public sector loans to date for a total amount of nearly US$672 million, or more than 393.8 billion CFA francs, in the transport, agriculture, education, energy, health, water and sanitation sectors.

It should also be noted that more recently, the OPEC Fund granted a concessional loan of 100 million euros to support the Senegalese agricultural campaign 2024-2025.

Mariama DIEME