The African Development Bank Group (AfDB) and the NGO Invest in Africa Senegal signed, this Friday, December 10, 2021, in Dakar, a grant agreement from the Fund for Africa for Private Sector Assistance (FAPA) , managed by the Bank and intended to finance small and medium-sized enterprises (SMEs). This donation is for an amount of one million dollars.

This agreement is supported by a grant from Japan under FAPA. In the amount of one million dollars, it will be devoted to capacity building for SMEs/SMIs, which will include, among other things, training for SMEs/SMIs, business diagnostics and technology transfer. The direct beneficiaries of the project are Senegalese oil and gas SMEs and other key private sector actors. Senegalese SMEs will benefit from quality training in entrepreneurial and business skills, while having access to finance and technology. The project will contribute to the implementation of two priority objectives of the Bank's High 5s, namely “industrialize Africa” and “improve the quality of life of the people of Africa”.