OPEC Fund commits €100 million to strengthen food security and rural livelihoods in Senegal

August 7, 2025: The OPEC Fund for International Development (the OPEC Fund) is committing €100 million to support Senegal’s 2024–2025 agricultural campaign, reinforcing the country’s efforts to boost food security and to improve the resilience of rural communities. The initiative is expected to benefit around 800,000 smallholder farming households through improved access to subsidized seeds and fertilizers.

The financing will complement contributions from the Arab Bank for Economic Development in Africa (BADEA) and the Trade and Development Bank (TDB), bringing the total project value to €300 million. The OPEC Fund’s financing will specifically reinforce Senegal’s Agricultural Input Subsidy Program by boosting the supply of essential fertilizers and seeds, a critical lifeline for smallholder farmers.

OPEC Fund President Abdulhamid Alkhalifa said: 

“This initiative addresses a critical need by supporting Senegal’s efforts to make essential agricultural resources more accessible to farmers in time for the planting season. We are pleased to contribute to improved productivity, stronger food systems and more inclusive development.”

Agriculture plays a central role in Senegal’s economy, providing livelihoods for nearly 70 percent of the population. Yet many farmers continue to face barriers such as limited access to essential agricultural supplies, outdated equipment and growing climate-related pressures. The OPEC Fund’s support will help tackle these challenges by improving access to essential resources and reinforcing the shift toward more productive and resilient farming practices.

The project aligns with Senegal’s Vision 2050, the National Food Sovereignty Strategy 2024–2035 and the Agricultural Growth Acceleration Program. It will be implemented by the Ministry of Finance and Budget over a 20-month period.

The OPEC Fund and Senegal have enjoyed a long-standing partnership since 1976. To date, the OPEC Fund has committed over US$240 million in public sector financing to the country, supporting projects in agriculture, water and sanitation, infrastructure, education, health and energy.

About the OPEC Fund

The OPEC Fund for International Development (the OPEC Fund) is the only globally mandated development institution that provides financing from member countries to non-member countries exclusively. The organization works in cooperation with developing country partners and the international development community to stimulate economic growth and social progress in low- and middle-income countries around the world. The OPEC Fund was established in 1976 with a distinct purpose: to drive development, strengthen communities and empower people. Our work is people-centered, focusing on financing projects that meet essential needs, such as food, energy, infrastructure, employment (particularly relating to MSMEs), clean water and sanitation, healthcare and education. To date, the OPEC Fund has committed more than US$29 billion to development projects in over 125 countries with an estimated total project cost of more than US$200 billion. The OPEC Fund is rated AA+/Outlook Stable by Fitch and S&P Global Ratings. Our vision is a world where sustainable development is a reality for all.