The Government of Senegal has signed a landmark €2 billion framework agreement with the International Islamic Trade Finance Corporation (ITFC) to drive investment in energy, agriculture, healthcare, and private sector development from 2025 to 2029. The deal was formalized by Senegal’s Minister of Economy, Planning, and Cooperation, Abdourahmane Sarr, and ITFC Director General Adeeb Y. Al Aama during the Islamic Development Bank (IsDB) Annual Meetings in Algiers from May 19–22, 2025.
The agreement will support Senegal’s efforts to stabilize fuel supplies, notably for national utility Senelec, strengthen groundnut production and other agricultural exports, enhance health infrastructure and job creation through targeted SME support, and align financing with the country’s long-term “Senegal 2050” transformation agenda.
Since 2008, ITFC has provided $1.9 billion in financing across 27 projects in Senegal, making it a key partner in the country’s economic modernization. The new agreement signals deepened collaboration under Senegal’s new administration and a commitment to sustainable, inclusive growth.
