1. What We Do

Senegal Energy Sector Recovery Development Policy Financing

Abstract*

The objective of the Energy Sector Recovery Development Policy Credit is to ensure a sustained and sound long term development of electricity services and supply of petroleum products for Senegal. To achieve this objective, the operation comprises: (a) financial support to the Government to allow the power utility of Senegal - Societe Nationale d Electricite (National Power Utility of Senegal) (SENELEC) - to restore by end CY2009 its financial equilibrium...

* The project abstract is drawn from the PAD, SAR or PGD and may not accurately reflect the project's current nature

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Development Objective

The primary objective of the operation is to ensure a sound and sustained long-term development of electricity services and supply of petroleum products for Senegal, and therefore to support the achievement of the Government#s macroeconomic objectives. To achieve such objective, the operation comprises: (a) measures to allow SENELEC to restore its financial equilibrium and to meet standard financial ratios by end CY2009; (b) policy measures aimed at ensuring that the electricity sub-sector and the downstream hydrocarbon sub-sector, which provides essential inputs to the electricity sub-sector, operate in an efficient, transparent and financially sustainable way with adequate governance and financial arrangements; and (c) measures to ensure a sustainable long term development of Senegal#s energy sector. The operation complements the efforts made by the Government and by other donors with respect to budgetary support to SENELEC and SAR, investment financing, and policy reform and capacity strengthening. It also constitutes an effective vehicle to deepen the dialogue and harmonize Government and donors strategies in the energy sector.

Key Details

Project Details

  • P105279

  • Closed

  • Stephan Garnier

  • N/A

  • Senegal

  • April 16, 2007

  • (as of board presentation)

    June 19, 2008

  • September 5, 2008

  • US$ 80.00 million

  • N/A

  • January 15, 2013

  • December 31, 2010

  • BANK APPROVED

  • Notes

Sectors

Created with Highstock 5.0.14FY17 - Renewable EnergyBiomassFY17 - Renewable Energy BiomassFY17 - Oil and GasFY17 - Renewable EnergyGeothermalFY17 - Renewable Energy GeothermalFY17 - Energy Transmission andDistributionFY17 - Energy Transmission and DistributionFY17 - Renewable Energy SolarFY17 - Renewable Energy WindFY17 - Other Energy andExtractivesFY17 - Other Energy and Extractives

Themes

Project Map

Interactive Map

Finances

Financing Plan (US$ Millions)

No data available.
Financier Commitments
IDA Credit 80.00

Total Project Financing (US$ Millions)

Product Line IBRD/IDA
IBRD Commitment N/A
IDA Commitment 80.00
IBRD + IDA Commitment 80.00
Lending Instrument
Grant Amount N/A
Total Project Cost** 80.00

Summary Status of World Bank Financing (US$ Millions) as of March 31, 2025

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No data available.
Financier Approval Date Closing Date Principal Disbursed Repayments Interest, Charges & Fees

Detailed Financial Activity as of March 31, 2025

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No data available.
Period Financier Transaction Type Amount (US$)
Apr 15, 2016 IDA-44670 Int Charges 2,435.75
Apr 20, 2015 IDA-44670 Int Charges 4,043.39
Apr 20, 2015 IDA-44670 Int Charges 4,043.39
Apr 20, 2015 IDA-44670 Int Charges 171,422.12
Apr 20, 2015 IDA-44670 Int Charges 171,422.12
Oct 15, 2015 IDA-44670 Int Charges 6,894.99
Oct 15, 2015 IDA-44670 Int Charges 6,894.99
Oct 15, 2015 IDA-44670 Int Charges 182,911.42
Oct 15, 2015 IDA-44670 Int Charges 182,911.42
Oct 18, 2013 IDA-44670 Int Charges 1,381.97
Oct 18, 2013 IDA-44670 Int Charges 1,381.97
Apr 15, 2014 IDA-44670 Int Charges 4.09
Apr 15, 2014 IDA-44670 Int Charges 4.09
Apr 15, 2014 IDA-44670 Int Charges 2,895.11
Apr 15, 2014 IDA-44670 Int Charges 2,895.11
Apr 17, 2014 IDA-44670 Int Charges 113,557.18
Apr 17, 2014 IDA-44670 Int Charges 113,557.18
Apr 17, 2014 IDA-44670 Int Charges 83,634.60
Apr 17, 2014 IDA-44670 Int Charges 83,634.60
Oct 15, 2014 IDA-44670 Int Charges 1,089.58
Oct 15, 2014 IDA-44670 Int Charges 1,089.58
Oct 21, 2014 IDA-44670 Int Charges 187,005.12
Oct 21, 2014 IDA-44670 Int Charges 187,005.12
Oct 18, 2013 IDA-44670 Int Charges 199,081.55
Oct 18, 2013 IDA-44670 Int Charges 199,081.55
Apr 26, 2024 IDA-44670 Int Charges 13,078.50
Apr 26, 2024 IDA-44670 Int Charges 13,078.50
Apr 26, 2024 IDA-44670 Loan Repay 453,229.66
Apr 26, 2024 IDA-44670 Int Charges 151,265.38
Apr 26, 2024 IDA-44670 Int Charges 151,265.38
Jun 19, 2008 IDA-44670 Loan Commitment 80,000,000.00
Oct 15, 2023 IDA-44670 Loan Repay 11,538.33
Oct 15, 2023 IDA-44670 Loan Repay 439,073.50
Oct 15, 2023 IDA-44670 Int Charges 139,078.55
Oct 15, 2023 IDA-44670 Int Charges 139,078.55
Oct 15, 2022 IDA-44670 Int Charges 13,892.79
Oct 15, 2022 IDA-44670 Int Charges 13,892.79
Oct 15, 2022 IDA-44670 Loan Repay 439,115.38
Oct 15, 2022 IDA-44670 Int Charges 143,539.77
Apr 15, 2019 IDA-44670 Int Charges 177,581.78
Apr 15, 2019 IDA-44670 Loan Repay 8,964.27
Apr 15, 2019 IDA-44670 Loan Repay 469,370.50
Oct 15, 2019 IDA-44670 Int Charges 166,899.88
Oct 15, 2019 IDA-44670 Int Charges 166,899.88
Oct 15, 2018 IDA-44670 Int Charges 1,663.29
Oct 15, 2018 IDA-44670 Int Charges 1,663.29
Oct 15, 2018 IDA-44670 Loan Repay 480,859.72
Oct 15, 2018 IDA-44670 Int Charges 180,322.40
Oct 15, 2018 IDA-44670 Int Charges 180,322.40
Apr 15, 2018 IDA-44670 Int Charges 1,441.77
Oct 15, 2022 IDA-44670 Int Charges 143,539.77
Apr 15, 2023 IDA-44670 Int Charges 8,441.68
Apr 15, 2023 IDA-44670 Loan Repay 465,978.30
Apr 15, 2023 IDA-44670 Int Charges 159,015.08
Apr 15, 2023 IDA-44670 Int Charges 159,015.08
Apr 15, 2023 IDA-44670 Int Charges 8,441.68
Apr 15, 2022 IDA-44670 Int Charges 3,803.68
Apr 15, 2022 IDA-44670 Int Charges 3,803.68
Apr 15, 2022 IDA-44670 Loan Repay 470,040.94
Apr 15, 2022 IDA-44670 Int Charges 149,055.55
Apr 15, 2022 IDA-44670 Int Charges 149,055.55
Oct 15, 2021 IDA-44670 Int Charges 167,274.05
Oct 15, 2021 IDA-44670 Int Charges 167,274.05
Apr 15, 2021 IDA-44670 Int Charges 10.17
Apr 15, 2021 IDA-44670 Int Charges 10.17
Apr 15, 2021 IDA-44670 Int Charges 171,375.27
Apr 15, 2021 IDA-44670 Int Charges 171,375.27
Apr 15, 2021 IDA-44670 Int Charges 5,973.36
Apr 15, 2021 IDA-44670 Int Charges 5,973.36
Apr 15, 2021 IDA-44670 Loan Repay 491,437.70
Oct 15, 2021 IDA-44670 Int Charges 3,656.12
Oct 15, 2021 IDA-44670 Int Charges 3,656.12
Oct 15, 2021 IDA-44670 Loan Repay 485,686.03
Oct 16, 2020 IDA-44670 Loan Repay 481,936.88
Oct 16, 2020 IDA-44670 Int Charges 50.57
Oct 16, 2020 IDA-44670 Int Charges 50.57
Oct 16, 2020 IDA-44670 Int Charges 168,882.48
Oct 16, 2020 IDA-44670 Int Charges 168,882.48
Oct 15, 2020 IDA-44670 Loan Repay 3,574.08
Apr 20, 2020 IDA-44670 Int Charges 6,355.56
Apr 20, 2020 IDA-44670 Int Charges 6,355.56
Apr 20, 2020 IDA-44670 Loan Repay 469,167.16
Apr 20, 2020 IDA-44670 Int Charges 170,659.56
Apr 20, 2020 IDA-44670 Int Charges 170,659.56
Oct 15, 2019 IDA-44670 Loan Repay 255.37
Oct 15, 2019 IDA-44670 Loan Repay 471,275.10
Oct 15, 2019 IDA-44670 Int Charges 0.01
Oct 15, 2019 IDA-44670 Int Charges 0.01
Apr 15, 2019 IDA-44670 Int Charges 177,581.78
Apr 15, 2018 IDA-44670 Int Charges 1,441.77
Apr 15, 2018 IDA-44670 Int Charges 185,889.31
Apr 15, 2018 IDA-44670 Int Charges 185,889.31
Nov 1, 2017 IDA-44670 Int Charges 32.15
Nov 1, 2017 IDA-44670 Int Charges 32.15
Apr 15, 2017 IDA-44670 Int Charges 175,226.78
Apr 15, 2017 IDA-44670 Int Charges 496.55
Apr 15, 2017 IDA-44670 Int Charges 496.55
Apr 15, 2017 IDA-44670 Int Charges 175,226.78
Nov 1, 2017 IDA-44670 Int Charges 179,864.77
Nov 1, 2017 IDA-44670 Int Charges 179,864.77
Apr 15, 2016 IDA-44670 Int Charges 2,435.75
Apr 19, 2016 IDA-44670 Int Charges 179,395.45
Apr 19, 2016 IDA-44670 Int Charges 179,395.45
Oct 15, 2016 IDA-44670 Int Charges 1,756.72
Oct 15, 2016 IDA-44670 Int Charges 1,756.72
Oct 18, 2016 IDA-44670 Int Charges 175,669.05
Oct 18, 2016 IDA-44670 Int Charges 175,669.05
Footnotes

Ratings

IMPLEMENTATION RATINGS

Name Review Date
Program Management Satisfactory 2010-06-25
Monitoring and Evaluation Satisfactory 2010-06-25
Progress towards achievement of PDO Moderately Unsatisfactory 2010-06-25

COMPLETION RATINGS

INDICATORIMPLEMENTATION COMPLETION & RESULTS REPORT: 06-29-2011
OutcomesUnsatisfactory
Risk to Development OutcomeHigh
Bank PerformanceModerately Unsatisfactory
Borrower PerformanceUnsatisfactory
Government PerformanceUnsatisfactory
Implementing AgencyUnsatisfactory

INDEPENDENT EVALUATION RATINGS

INDICATORICR REVIEW: 07-26-2012PROJECT PERFORMANCE ASSESSMENT REPORT: 09-26-2013
Outcome RatingUnsatisfactory Unsatisfactory
Risk To Development OutcomeHighHigh
Bank PerformanceUnsatisfactoryUnsatisfactory
Borrower PerformanceUnsatisfactoryUnsatisfactory
Government PerformanceUnsatisfactoryNot Rated
Implementing AgencyUnsatisfactoryNot Rated
Icr QualitySatisfactoryNot Rated
M&e QualitySubstantialNot Rated

Results Framework

PROJECT DEVELOPMENT OBJECTIVE INDICATORS

INDICATORBASELINECURRENTTARGET
  • SENELEC recapitalized over the 2007-2009 period to restore its financial equilibrium and meet standard financial ratios by end CY2009 (DSCR, Accounts receivable, Arreas to suppliers)ValueDSCR (2007) = 1.0Accounts receivable (2007) : 97 DSCR 2009 : 0.68Accounts receivable 2009 : 92 dayDSCR: 1.2 in 2009 and 1.4 in 2011Accounts receiva
    DateDecember 31, 2007June 14, 2010December 30, 2011
    Comment
  • Electricity tariffs adjusted in 2008 to ensure SENELEC of full cost recovery and contribution to investment financing with no compensation from National Budget in 2009 and following yearsValueMedium tariff (end 2007) : 107Increase of 8 % on July 1st, 2009 (insufficient)NCompensation by Government from 2009 = 0
    DateDecember 31, 2007June 14, 2010December 30, 2011
    Comment
  • Restructuration of SENELEC#s short-term financial debt into longer maturity debt (with commercial banks, restructuring of its debt to Treasury and also through the refinancing to be provided by AFD)ValueNo restructuring envisagedDebt restructuring is part of the package of measu50% of short term debt refinanced by end 2009100%
    DateDecember 31, 2007June 14, 2010December 30, 2011
    Comment
  • Implementation by SENELEC of its Cost Reduction ProgramValueNo plan in placeFirst Plan adopted in March 2008Only 3 Billion CFCost Reduction :Around 8 billions CFA by end 2008
    DateDecember 31, 2007June 14, 2010December 30, 2011
    Comment
  • SAR recapitalized over the 2008-2009 period to restore its financial equilibrium and meet standard financial ratios by end CY2009ValueNo recapitalizationPartially completed.Government has partially recaRecapitalization completed
    DateDecember 31, 2007June 14, 2010December 30, 2011
    Comment
  • Better reporting by SAR's and SENELEC's management to their Board and to GoSValueNo action in placeAgreement to establish two committees to assist BoCommittees in place
    DateDecember 31, 2007June 14, 2010December 30, 2011
    Comment
  • Procurement: Adoption by SENELEC and SAR of the National Procurement CodeValueNot adoptedNPC adopted by SENELEC including a specific procedNPC adopted
    DateDecember 31, 2007June 14, 2010December 30, 2011
    Comment
  • SENELEC's institutional reform.Unbundling and adequate Private ParticipationValueReform not started but Government has confirmed itTask Force in place and operational with intensivePPP expected to be in place by mid 2010.Unbundlin
    DateDecember 31, 2007June 14, 2010December 30, 2011
    Comment
  • Reinforcement of SENELEC and SAR Internal Audit DepartmentValueNo actionInternal Audit Department in place in SENELEC.NewCompletion of an audit by independent auditors of
    DateDecember 31, 2007June 14, 2010December 30, 2011
    Comment
  • Setting up of a Regulatory Agency for hydrocarbon subsectorValueNo Regulatory AgencyDecision by GoS confirmed and legislation ready (sAgency to be responsible for regulating the import
    DateDecember 31, 2007June 14, 2010December 30, 2011
    Comment
  • Diversification strategy from oil products to coal and new and renewable energies and tapping into regional hydroelectricity potentialsValueOnly ManantaliPPA signed for a 125MW coal plantPPA signed for FCommissioning of the 125 MW coal plant: Q4 2010PP
    DateDecember 31, 2007June 14, 2010December 30, 2011
    Comment
  • Master Plans: development of least cost development programs in generation, transmission and distributionValueNo Master Plan in placeCompletion of the two studies completed. Still to Adoption by the Board of Directors of SENELEC of
    DateDecember 31, 2007June 14, 2010December 30, 2011
    Comment
  • Renewable energies: Adoption of a regulatory and incentive framework to promote development of a new and renewable energiesValueNo legislation in placeOrientation Law on Renewable Energy prepared and aRegulatory and incentive framework to promote deve
    DateDecember 31, 2007June 14, 2010December 30, 2011
    Comment
  • Energy efficiency: Development of a demand side management and energy efficiency programsValueNo programConsultant presented its conclusions in October 20Demand side management and energy efficiency progr
    DateDecember 31, 2007June 14, 2010December 30, 2011
    Comment

INTERMEDIATE RESULTS INDICATORS

INDICATORBASELINECURRENTTARGET
  • First tranche releaseValueNo disbursementFirst tranche released September 27, 2008First tranche release by end 2009
    DateDecember 31, 2007June 14, 2010December 30, 2011
    Comment