In 2004, the bank conducted an investment climate assessment in Senegal wherein private sector groups were surveyed to identify the roadblocks to investment and economic growth. More than 60 percent of the respondents identified high costs and low access to financing as their most significant problem. High taxes, inefficient administration, and other governance issues ranked high among the responses, while lack of infrastructure in transport and energy followed suit.
In relation to this, the World Bank is planning new investment loans for the transport and energy sectors in Senegal, the Devex Early Intelligence team learned from a senior bank officer. Other projects for fiscal 2009 and 2010 include waterways development and governance initiatives.
Aside from loans, the bank will also provide poverty reduction support credits for the country amounting to US$90 million across fiscal 2009 to 2010.
A total of US$270 million worth of investments, poverty reduction support credits, Global Environment Facility-funded projects and regional initiatives has been allocated for Senegal as identified in the World Bank's country assistance strategy.