In a bold move to accelerate its economic transformation, Senegal has signed a groundbreaking €2 billion framework agreement with the International Islamic Trade Finance Corporation (ITFC). 

The five-year deal, unveiled on the sidelines of the Islamic Development Bank’s (IDB) Annual Meetings in Algiers, marks a major leap in the country’s pursuit of sustainable development and private sector growth.

Senegal’s Minister of Economy, Planning, and Cooperation, Abdourahmane Sarr, formalized the agreement alongside ITFC Director General Adeeb Y. Al Aama. Set to run from 2025 to 2029, the strategic partnership is designed to inject critical support into key sectors, including energy, agriculture, health, and private enterprise, each essential to Senegal’s vision of inclusive and sustainable growth.

“This strategic partnership aims to strengthen ITFC's support in Senegal in key sectors. The funding will support energy supply, agriculture, health, and private sector development, it was learned, with the stated objective of promoting sustainable job creation." Minister Sarr said during the signing ceremony.

The ITFC, a member of the Islamic Development Bank (IDB) Group, emphasized that the funding will directly support projects that align with Senegal’s “Senegal 2050” transformation agenda, a long-term strategy launched by the country’s new administration to reshape its socio-economic landscape.

Since its inception in 2008, ITFC has already channeled $1.9 billion into 27 financing projects in Senegal, primarily in the agriculture and energy sectors. These efforts have helped stabilize fuel supplies through Senelec and enhance agricultural productivity, especially groundnut harvests.

The new agreement builds on that momentum, expanding ITFC’s role as a key development partner and positioning Senegal as a regional model for trade-led growth and strategic planning.

As the country turns the page to a new chapter under fresh leadership, the ITFC deal sends a strong signal of international confidence in Senegal’s future. With a solid foundation of past cooperation and a shared vision for prosperity, the €2 billion commitment could prove to be a game-changer in the nation’s journey toward long-term development and global competitiveness.