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Overview

Chinese Government commits 700 million CFA of grant funding for Senegal’s Microfinance Impulse Fund

Commitments (Constant USD, 2023)$2,658,314
Commitment Year•2005Country of Activity•SenegalDirect Recipient Country of Incorporation•SenegalSector•Banking And Financial ServicesFlow Type•Grant

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Sep 22, 2005

Stakeholders

Organizations involved in projects and activities supported by financial and in-kind transfers from Chinese government and state-owned entities

Funding agencies

Government Agencies

  • China Ministry of Commerce

Receiving agencies

Government Agencies

  • Government of Senegal

Implementing agencies

Government Agencies

  • Government of Senegal

Loan description

Chinese Government commits 700 million CFA of grant funding for Senegal’s Microfinance Impulse Fund

Narrative

Full Description

Project narrative

On September 22, 2005, the Chinese Government committed 700 million FCFA of grant funding for Senegal’s Microfinance Impulse Fund. However, according to the Government of Senegal’s External Financing Management Platform (la Plateforme de Gestion des Financements Extérieurs du Sénégal, or PGFE), the Chinese Government never disbursed any funding in support of this project. The Senegalese Microfinance Impulse Fund's mission is to make additional resources for credit activities available to decentralized financing systems.

Staff comments

PGFE identifies the funding agency for this project as ‘Coopération Chinoise’. AidData assumes for the time being that this is a reference to the PRC (since other PRC-financed activities recorded in the PGFE identify ‘Coopération Chinoise’ as the source of funding). However, it is possible that ‘Coopération Chinoise’ is a reference to Taiwan. Additionally, PGFE lists BCI-ETAT as an additional project donor, which is why AidData marks the co-financed field to be true.