The COVID-19 pandemic has weakened the macroeconomic outlook for Senegals economy. Containment measures to avoid the propagation of the virus, lower external demand, reduced remittances, and the sudden stop of travel and tourism are having a significant impact on growth and generating an urgent balance-of-payments (BOP) need.
The World Bank approved a USD 150 million IDA credit to support Senegal in strengthening agricultural productivity and helping build resilient, climate-smart and competitive food systems.
- The Agriculture and Livestock Competitiveness Program for Results will help increase exports of high-value crops such as shelled groundnuts and horticultural products, and dairy farming productivity, and reduce the mortality rate of small ruminants.
- The program is anchored in the Plan Sénégal émergent and will help mitigate the negative impacts of the Covid-19 pandemic by boosting agricultural and livestock productivity while ensuring resilient production practices and improving revenues for farmers and herders
- The program will focus on helping small-scale producers and herders invest in more productive and resilient crops and livestock value chains and will provide access to finance and insurance to producers in the extended Groundnut Basin and agro-pastoral areas.
- it will work with the government to engage in more efficient pricing, quotas and subsidy policies.
- This will help boost competitiveness and job creation through private sector-led growth as part of the County Partnership Framework. It will also support activities and reforms embedded in the Program for Accelerated Pace of Agriculture (PRACAS II) and the National Livestock Development Plan (PNDE).