The World Bank has announced the approval of $115 million in concessional financing to aid Senegal's fiscal reforms and enhance public financial management. This funding, provided through the International Development Association (IDA), aims to support the 2025–2029 Senegal Program for Transparency in Public Financial Management and Fiscal Consolidation (SEN-FINTRAC). This initiative aligns with Senegal's Vision 2050.
The Strengthening Senegal’s Fiscal Sustainability Program (SEN-FISCALE) marks a collaborative effort between the Government of Senegal and the World Bank to advance essential fiscal reforms. The program seeks to improve how public resources are managed, which is expected to foster inclusive growth, enhance service delivery, and bolster resilience against economic and climate-related challenges. These efforts align with Senegal’s broader goals of shared prosperity and expanded opportunities.
Reforms will focus on three areas: public financial management (PFM), public debt sustainability, and domestic resource mobilization (DRM). These are part of a wider reform agenda that includes the upcoming Reforms for Economic Stabilization, Enabled Transformation, and Transparency (RESET) Development Policy Financing series.
Keiko Miwa, World Bank Division Director for Senegal, stated: “We commend the government’s strong commitment to debt transparency and effective public finance management. This initiative supports Senegal’s ambition to build a more transparent, accountable, and resilient public finance management system.” She added that strengthening PFM, improving public debt sustainability, and increasing DRM would help deliver better services, strengthen trust in government institutions, and lay the foundation for long-term fiscal stability.
The program will introduce a modern financial management system alongside electronic procurement tools to enhance spending efficiency. It also plans to establish a unified debt recording system to improve transparency. On revenue generation, it supports modernizing tax administration through e-invoicing for VAT payers and performance-based customs operations. A digital transformation agenda underpins these reforms for real-time monitoring of finances.
The $115 million package comprises a $105 million Program-for-Results component and a $10 million technical assistance component aimed at change management, digital transformation, and capacity building. This program is consistent with the World Bank's forthcoming Country Partnership Framework.