Belgo-Senegalese counterpart fund (development fund)


Project summary

Belgo-Senegalese counterpart fundIn 1989 and 1992, the Republic of Senegal received two donations from Belgium of 2.5 million euros each, intended to strengthen its balance of payments. They were used to create a counterpart fund, whose income was initially intended for financing SMEs, economic interest groupings and microprojects in various sectors, such as fishing, aviculture, commerce, and so on.Following a decision to redefine the fund's objectives in 2001, the recipients of financing are now decentralised financing structures (or microloan institutions), and in particular Senegal's networks of mutual savings and loans associations. Non-financial support for these emerging structures and institutions is also possible, enabling them to reinforce their management and administration capacities. The objective remains that of enhancing their viability while giving the smallest economic players access to loans an important sustainable development tool.

Code SEN/00/006
Start date 20 September 1989
End date 20 September 1989
Stage Closed
Donor Belgium
Sector 43010 Multisector aid
Budget Not available

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