OPEC Fund provides €57 million to strengthen food security and agricultural resilience in Senegal

October 14, 2026: The OPEC Fund for International Development (the OPEC Fund) has signed a €57 million loan agreement with Senegal to boost domestic food production, strengthen rural livelihoods and help farmers adapt to climate change. The financing will support a nationwide food security initiative expected to benefit around 900,000 people, half of them women and half young people. The agreement was signed on the sidelines of the World Bank-IMF Annual Meetings in Bangkok, Thailand.

OPEC Fund President Abdulhamid Alkhalifa said: “Food security starts with farmers. By improving access to water, modern farming methods and markets, we can help rural communities produce more, earn better incomes and become more resilient to climate change. This investment will strengthen Senegal's ability to feed its growing population while creating new opportunities for women and young people.”

The financing will support Senegal's Food Sovereignty Strategy Support Project (PASS), which aims to increase agricultural production and reduce the country's reliance on food imports. Covering 10 of Senegal's 14 administrative regions across the Groundnut Basin, Eastern Senegal and Upper Casamance, the project will focus on irrigation, climate-smart farming, better access to agricultural inputs and stronger links between farmers and local markets.

The project is expected to bring 1,500 hectares of farmland under improved water management, build or rehabilitate around 330 km of rural roads and support more than 2,200 agricultural enterprises. It will also improve food storage and processing facilities, helping farmers reduce losses, reach more buyers and increase their incomes.

The €57 million OPEC Fund loan forms part of a broader US$266 million project co-financed by the International Fund for Agricultural Development (IFAD) and the Italian Climate Fund (ICF), each contributing US$90 million.

Agriculture is central to Senegal's economy and rural employment, but farmers face increasing challenges from climate change, limited irrigation and inadequate market infrastructure. By addressing these constraints, the project will help strengthen local food systems and expand economic opportunities across rural communities.

The OPEC Fund has a longstanding development partnership with Senegal, having approved 40 public sector loans totaling nearly US$672 million across transport, agriculture, education, energy, health, water and sanitation to date. Most recently, the OPEC Fund provided a €100 million concessional loan to support Senegal's 2024–2025 agricultural campaign.

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$32 billion to development projects in over 125 countries. These projects represent a total value exceeding US$240 billion, equivalent to approximately US$7.50 mobilized for every US$1 committed by the OPEC Fund. The OPEC Fund is rated AA+/Outlook Positive by Fitch and AA+, Outlook Stable by S&P. Our vision is a world where sustainable development is a reality for all.