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Senegal’s Senelec to receive loan from ITFC [free access]

October 23, 2021

International Islamic Trade Finance Corporation (ITFC), a member of the Islamic Development Bank Group (IsDB), has approved a loan of EUR100 million to Senegal’s national electricity company Société Nationale d'électricité du Sénégal (Senelec) to give a boost to the energy sector.

 

The funds will help the company to cover 19 per cent of the cost of refined petroleum products, which will have a significant impact on the production, transmission and distribution of electricity throughout the country.

 

Earlier on July 12, 2021, the Export Import (EXIM) Bank of India had granted a USD35.26 million loan under a credit agreement with the Senegal’s Ministry of Economy, Planning and Co-operation for the construction and installation of 225 kV, 92 km overhead transmission line (OHL) from Tanaff to Ziguinchor in Senegal and bay extensions in Tanaff. Kalpataru Power Transmission Limited (KPTL) is executing this project in Senegal.

 

(EUR1=USD1.16)