September 16, 2009
MCC Signs $540 Million Compact with Republic of Senegal
Compact focuses on poverty reduction through improved food security and transportation
Washington, D.C.—Today, Millennium Challenge Corporation (MCC) Acting Chief Executive Officer Darius Mans and Senegalese Minister of Finance and Economy Abdoulaye Diop signed a five-year poverty reduction compact granting $540 million to the Republic of Senegal for road rehabilitation and food security initiatives in some of the poorest regions of Senegal. U.S. Secretary of State Hillary Rodham Clinton and President Abdoulaye Wade of Senegal presided at the signing held at the U.S. State Department in Washington, D.C.
“It is a pleasure to join Secretary Clinton, the chair of our MCC Board, to sign a ground-breaking poverty reduction compact with Senegal,” said Mr. Mans. “Senegal’s compact was developed by the Senegalese and will be implemented by the Senegalese. It is a bold example of a country taking control of its future.”
“MCC compacts come with great responsibility—and today offers us an opportunity to re-affirm that we will work together, as governments, civil society groups, and development professionals to closely monitor the compact process and to ensure transparency, accountability, integrity, and results that will benefit the people of Senegal” said Mr. Mans.
MCC’s compact with Senegal will focus on road rehabilitation in the northern and southern regions of the country. Improving these roads is vital to supporting the country’s agricultural sector by creating reliable, cost-effective, and time-saving transport for locally-produced agricultural products to domestic and international markets year-round. In addition to getting producers and consumers access to markets, these roads will provide access to essential community services such as schools and hospitals.
The Senegal compact also will invest in a strategic irrigation and water resources management project to improve crop yields. The project will rehabilitate drainage canals, increase the security of land tenure, and develop up to 10,500 hectares of additional irrigated land in the Senegal River Valley. The irrigation project will move Senegal, a country that currently imports 70 percent of its rice, an important step closer to greater food security.
MCC, in conjunction with Congressman Donald M. Payne (NJ-10) and the Congressional Black Caucus, will host a public presentation on “Building Long-term Growth in Africa: The MCC-Senegal Compact.” The event will be held in the Rayburn House Office Building, Room 2172 at 1:45 p.m. on Wednesday, September 16, 2009. For more information on the compact, please visit: http://www.mcc.gov/mcc/bm.doc/factsheet-090709-senegal.pdf
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