Staff members of the International Monetary Fund have reached an agreement with Senegal on financing facilities totaling approximately $1.9 billion, according to a statement released by the Fund.
The agreement is not final until it is approved by the IMF’s executive board, which is expected to vote on it by the middle of June at the latest.
The majority of the funds come from a new financing agreement with 36-month terms, as well as an extended credit facility and an extended fund facility totaling more than $1.5 billion.
Among the policy priorities that will be prioritized under this agreement are the reduction of debt vulnerabilities through fiscal consolidation, the strengthening of frameworks combating money laundering and terrorism financing, and the delivery of job-creating economic growth.
Senegal’s climate change adaptation and mitigation goals will be supported by funding in the amount of approximately $327 million provided by the Resilience and Sustainability Facility.
