The World Bank approved an additional concessional financing of €57.5 million in July 2025 to support the Program for Employment, Economic Transformation, and Recovery (ETER) in Senegal. The announcement was made on Thursday, September 11 by Keiko Miwa, Division Director for Cabo Verde, The Gambia, Guinea-Bissau, Mauritania, and Senegal, during a workshop presenting the new strategy of the Agency for the Development and Supervision of Small and Medium Enterprises (ADEPME) in Dakar.
This funding strengthens the Acceleration Program for Competitiveness and Employment (PACE), a flagship initiative of the government aimed at unlocking the potential of the private sector, creating jobs, and stimulating inclusive and sustainable growth.
According to the various parties involved, this financing will expand the program’s scope in four key areas: strengthening the competitiveness of Senegalese businesses, promoting the adoption of innovative technologies, improving access to financing, and stimulating private investment.
Furthermore, it is indicated that it will also support structural reforms related to industrialization planning, the business climate, and innovation, with a particular focus on women-led businesses and smart technologies adapted to climate challenges.
“This funding reflects the World Bank’s commitment to supporting Senegal’s efforts to advance the private sector, especially SMEs, and create more jobs. The rapid and concerted preparation of this financing illustrates our common commitment to providing timely and impactful financial and technical support. By strengthening support for SMEs and improving the competitiveness of priority value chains, this program will help stimulate economic opportunities and promote job creation throughout the country, especially for young people and women,” said Keiko Miwa.
According to the official, more than $280 million in concessional financing has been mobilized since June 2025, at a crucial moment when the government is entering a decisive phase of implementing its Vision 2050.
Furthermore, Keiko Miwa stated that the program is expected to support 10,000 SMEs and create over 85,000 higher-quality jobs, while promoting sustainable and environmentally friendly solutions. The initiative fully aligns with Senegal’s ambition to make the private sector a key driver of growth and job creation, while fostering a more resilient, innovative, and equitable economy.
