Following the grant of 66 billion FCFA, (100 million euros) from Germany, announced in September 2020, in support of the Economic and Social Resilience Program (PRES), the two countries have agreed to the financing of additional programs. With this additional financing, Germany is allocating a record 116.7 billion FCFA (€178 million) to Senegal in 2020, with a view to developing the private sector and creating jobs for young people.

For ambassador Stephan Röken: "Senegal is a privileged partner of Germany. Relations between the two countries have significantly intensified in 2020. Commitments under the Partnership to Encourage Reforms have been expanded and Germany's financial contribution to help mitigate the economic impacts of COVID19 has been considerable. The priority is the preservation and creation of jobs for Senegalese youth."

 
Since the start of the Partnership to Encourage Reforms under the Compact with Africa in 2019, Germany and Senegal have been conducting annual intergovernmental negotiations on development policy. The latest negotiations between the Ministry of Economy, Planning and Cooperation of Senegal (MEPC) and the Ministry of Economic Cooperation and Development of Germany (BMZ) were held on December 2, 2020.

As a reminder, Senegal and Germany entered into a partnership to encourage reforms as part of the G20 Compact with Africa initiative in September 2019. Development cooperation between the two countries has intensified considerably since then.

Germany is committed to supporting Senegal in creating jobs, improving financing offers, promoting the formalization of enterprises in the informal sector and improving the qualification of the workforce. The objective is to encourage structural reforms to promote private investment, with a view to a sustainable and inclusive development of Senegal's economy.

 
The main axes of this partnership cover: labour legislation, land reform, access to finance and the development of SMEs/SMIs, and vocational training.