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Strengthening the port of Dakar and the future port of Ndayane: the World Bank issues guarantees worth 516 million euros

19/04/2023
Source : ORISHAS FINANCE
Categories: Sectors

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L The Senegalese State can increase its participation in the capital of a company operating container terminals in the port of Dakar and in the future port of Ndayane thanks to: a guarantee from the Multilateral Investment Guarantee Agency (MEGA)

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The Multilateral Investment Guarantee Agency (MIGA), an institution of the World Bank Group, has issued guarantees worth 516 million euros on behalf of Standard Chartered Bank (United Kingdom), Crédit Agricole Corporate and Investment Bank (France) and JPMorgan Chase Bank N.A. The signing of this project, which represents the thousandth operation supported by MIGA since its creation, demonstrates its determination to pursue its mission of supporting economic growth, reducing poverty and improving people's living conditions by mobilizing international private investments for the benefit of developing countries.

The Senegalese State intends to strengthen its strategic position in the sector and increase its annual revenue through dividends paid to it. Thus, the proceeds of loans supported by MIGA will make it possible to refinance loans taken out by the State with the aim of increasing its participation in the sector from 10 to 40% Capital of DP World Dakar SA.

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