The U.S. Trade and Development Agency and Senegal’s sovereign wealth fund, Fonds Souverain d’Investissements Stratégiques S.A. (FONSIS), announced, the April 22, 2022, a new partnership to deliver high-quality infrastructure solutions to Senegal. The partnership was commemorated through the signing of a memorandum of understanding earlier today in Dakar, Senegal.
“USTDA and FONSIS are building upon a strong existing foundation of collaboration and partnership,” said Enoh T. Ebong, USTDA’s Director. “USTDA’s three decades of project preparation expertise in Africa is a perfect complement to FONSIS’s record of mobilizing investment for strategic projects aligned with the Government of Senegal’s medium-and long-term economic and social development plan.”
The MOU outlined areas of mutual cooperation in Senegal’s priority infrastructure sectors, including the leveraging of USTDA’s project preparation expertise and FONSIS’s experience investing in Senegalese projects in collaboration with the Government of Senegal.
“This MOU with FONSIS will support greater collaboration in several critical sectors, namely clean energy, transportation, information and communications technology, agribusiness, and healthcare – another sign of the breadth and depth of our economic partnership with Senegal,” said U.S. Charge d’Affaires in Senegal Jonathan Fischer.
FONSIS’ CEO Papa Demba Diallo, said: “With respect to our ongoing fruitful partnership in the development of a flagship project for Senegal’s energy roadmap, the signing of this MOU appears quite natural as a next step in reinforcing our relationship with USTDA. FONSIS’s strategic role for the economic and social development of Senegal will enable significant areas of collaboration between our organizations. We are convinced that USTDA’s strong track-record in project preparation in sub-Saharan Africa will contribute to a more efficient deployment of our impactful projects.”
This MOU advances the U.S. government’s Prosper Africa initiative to substantially increase two-way trade and investment between the U.S. and Africa.