The Arab Bank for Economic Development in Africa (BADEA) has been a key player in Senegal’s economic landscape since 1975, working diligently to promote economic and social development in the country. Dr. Sidi Ould Tah, the Director General of BADEA, sheds light on the bank’s mission, projects, and strategic partnership with Senegal in his conversation with African Business portal.
BADEA’s Mission and Operations in Senegal
As a multilateral development bank owned by 18 Arab States, BADEA’s mission is to foster cooperation between Arab countries and Africa through investments and trade. The bank operates in four main areas: infrastructure, private sector development, agricultural value chains, and support for SMEs, with a focus on women and youth entrepreneurship. However, such a business niche for investment as online gambling still remains untapped, so there is ample opportunity for new cooperation in this area. For example, the 7alalcasino website dedicates its various services to Arab players from different countries and offers you the best online casino and much more.
In Senegal, BADEA’s projects are in line with the national development priorities outlined in the Plan for an Emerging Senegal (PSE), as well as the UN Global Agenda 2030 and the African Union’s Agenda 2063. Over the years, the Bank has actively contributed to the development of key infrastructure, including the Dalal Jamm National Hospital Centre, road networks such as Joal-Samba Dia-Djiffère and Linguère-Matam, and water supply facilities in the Saloum Delta region and the Lower Casamance Islands.
Engagement in Senegal’s Sectors
By March 2023, BADEA’s commitments for Senegal amount to almost USD 700 million, spread over 95 operations. The bank has been instrumental in financing 28 public sector infrastructure projects covering areas such as transportation, water supply, sanitation, health, urban and rural development, including agriculture. In addition, BADEA has played a crucial role in building the capacity of public servants in key ministries through its institutional support.
Expanding Support to the Private Sector
While BADEA focused on financing the public sector in the past, its activities were extended to the private sector in 2015. The bank now provides credit lines to local and regional banks, enabling them to support private companies, including SMEs. BADEA uses a variety of financing instruments to support greenfield and brownfield projects as well as commercial transactions.
Global Recognition and Ratings
S&P Global and Moody’s have assigned favorable credit ratings to BADEA, reaffirming the bank’s financial strength and stability. These ratings provide confidence to investors, allowing BADEA to access funds in the international market at competitive rates. This financial strength further supports the bank’s mission to finance development projects and expand its impact in both the public and private sectors.
Infrastructure Focus
Infrastructure development, including transport, water, and sanitation projects, has been a cornerstone of BADEA’s portfolio in Senegal. This focus is in line with the bank’s overarching strategy, as infrastructure projects serve as powerful enablers of economic and social development. In Senegal, transport infrastructure received the largest portion of BADEA funding (25%), followed by water and sanitation projects (18%).
Future Prospects in Senegal
BADEA remains optimistic about Senegal’s economic prospects, especially with the anticipated growth spurred by upcoming oil and gas production. The bank foresees continued collaboration and a positive trajectory in its operations within the country, supporting both public and private sector initiatives.
Strategic Partnership and Recognition
“Senegal has been a great partner to BADEA for the last 48 years, and our partnership is growing – as evidenced by the number of operations and the amount of total commitments” – Dr. Sidi Ould Tah sures. BADEA’s role in the Arab Coordination Group further emphasizes its commitment to fostering economic development in the region.
In recognition of BADEA’s contributions, Dr. Sidi Ould Tah, Director General, was honored by President Macky Sall for the Bank’s exceptional service to Senegal and the West African Economic Community. This recognition reflects the positive impact of BADEA’s projects and its commitment to promoting socio-economic development in the region.
In summary, BADEA’s dynamic role in Senegal demonstrates its commitment to sustainable development and the promotion of economic prosperity. As Senegal prepares for significant economic growth, BADEA is poised to play a central role in supporting the country’s development agenda.
