A loan agreement relating to the partial financing of the Linguere-Matam road project was signed in Lome on Thursday 24 September 2009 between the ECOWAS Bank for Investment and Development (EBID), represented by its President, Mr Christian ADOVELANDE, and the Government of Senegal, represented by the Minister of State at Ministry of Finance and Economic Planning, Mr Abdoulaye Diop.

The loan in an amount of FCFA 5.33 billion (US$ 11.05 million) is to be used to finance the rehabilitation of the Ourossogui-Matam road. The project involves the asphalting of the 10 kilometre stretch of the road, the construction of three bridges with total length of 520 metres and access ramps. The project aims at reducing transportation cost and promoting inter-regional trade.

The implementation of the project will contribute to the reduction in road maintenance and vehicle operating costs. The re-construction of the three bridges will open up Matam which is located at the eastern tip of Senegal close to the border with Mauritania. The stretch of the road which is to be financed with the loan is the only road linking Matam to the neighbouring regions.

The loan brings the total commitment of EBID in favour of Senegal to FCFA 56.3 billion (US$ 116.87 billion).

Lomé, 24 September 2009

Contact:
Sibi Lawson Agbekponou –Marketing and Communication Unit
E-mail : sagbekponou@bidc-ebid.org