The African Development Bank (AfDB) has announced that it will soon establish a regional office in Dakar, Senegal.

“The regional office that will be established in Dakar will cover the activities of the AfDB and the African Development Fund (ADF) in the Republic of Senegal, the Islamic Republic of Mauritania, the Republic of the Gambia and the Republic of Cape Verde,” Omar Kabbaj, president of the bank group, states.

The portfolio of the bank in these four countries consists of 57 ongoing projects, 17 of them in Senegal. The financial commitment in the projects stands at US$605mn or CFAFr338bn with Senegal accounting for 46% of the amount.

“The choice of Dakar to host the regional office,” the president explains, “is justified by the portfolio of the country, the possibility of realising new loan transactions in favour of the public sector, the potential for the development of the private sector, the accessibility of Senegal, the institutional capacities and, finally, the perspectives for the promotion of regional integration.”

The opening of the regional office will enable the bank group reinforce its presence in the four countries in conformity with its strategic plan that places emphasis on the improvement of dialogue with the member countries, strengthening coordination with financial backers, consolidation of relations with sub-regional and regional organisations and improved performance in the implementation of projects.

The AfDB group has a regional office in Gabon and five national offices in Egypt, Ethiopia, Nigeria, Uganda and Tanzania.