US and Senegal sign new MCC Senegal Power Compact

Senegal signing MCC COO Nash Minister Ba 800x592The US government’s Millennium Challenge Corporation (MCC) and the government of Senegal have signed the new five-year US$550mn MCC Senegal Power Compact

MCC Chief Operating Officer and Head of Agency Jonathan Nash joined US Secretary of State Michael Pompeo and Senegalese Prime Minister Mahammed Boun Abdallah Dionne to recognise the signing at the US Department of State.

The government of Senegal will contribute an additional US$50mn to the compact, bringing the total program to US$600mn.

MCC and the government of Senegal developed the compact to strengthen the power sector and meet the growing demand for reliable electricity in one of Africa’s fastest growing economies, and an important strategic partner of the US in West Africa. The compact is designed to increase reliability and access to electricity, support economic growth and reduce poverty.

MCC Chief Operating Officer and Head of Agency Jonathan Nash said, “We mark an important milestone: the signing of the US$550mn MCC Senegal Power Compact. MCC compact is designed to catalyse private sector investment, spur economic growth and reduce poverty by improving Senegal’s power sector, reducing costs and expanding access to electricity.”

The Senegal Power Compact is expected to benefit more than 12mn people and consists of three projects:

-The modernising and strengthening of Senelec Transmission Network Project which aims to strengthen and increase the reliability of Senegal’s high-voltage transmission network in and around Dakar, the country’s capital, and improve service delivery throughout the country. The compact supports the utility, Senelec, in reducing high production costs, facilitating private sector investment in generation, and increasing the reliability of electricity for consumers.

-The increasing access to electricity in rural and peri-urban areas project seeks to extend and reinforce the electrical grid in selected rural and peri-urban areas in Senegal’s south and centre regions, which have high economic potential but low connection rates. The project will also help residents and business connect to the grid and access electrical equipment.

-The power sector enabling environment and capacity development project will work to strengthen laws, policies and regulations governing the power sector as well as the institutions responsible for implementing them to support long-term economic progress.

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