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Senegal: Constraints on the financing of the agricultural sector persist

07/06/2021
Categories: Sectors

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During a panel on the issue of agricultural financing in Senegal, as part of the International Fair for Agriculture and Animal Resources (FIARA, 20 May-8 June), the administrator of the Support Fund for the Development of rural sector (FADSR), Macirin Savané revealed that the constraints linked to the financing of agriculture mean that the resources allocated to this sector remain insufficient. constraints related to the financing of agriculture mean that the resources allocated to this sector remain insufficient. "When we carried out the concrete analysis" of the situation of the agricultural sector, "we noted that there are constraints to the financing of agriculture in Senegal. If we look at the resources allocated to farmers, we see that they are insufficient, even if the State is making efforts by mobilizing resources from its budget", he said.

Macirin Savané also deplores the fragmentation of rural financing and high interest rates, a situation which is characterized by exit rates of between 6.5% and 5.5%. He adds that the low incomes in rural areas make it difficult for producers to benefit from certain resources, financing rarely concerning long resources, because what happens in rural areas is only focused on campaign financing, that is, of short duration.

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