SENEGAL: SENELEC - A Path to Sustainable Creditworthiness

Aiming to support the Ministry of Energy to improve SENELEC creditworthiness, enhance the sector’s institutional and financial arrangements for improved performance and financial sustainability, and modernize SENELEC’s corporate governance, this activity delivered financial debt and sustainability plans, which assessed the current financial situation of SENELEC, considered debt restructuring options, and made financial projections into 2030. By the date of the activity closure, SENELEC started implementing recommendations on strengthening its financial and operational performance. In view of the current Covid-19 crisis, a slowdown in taking up specific recommendations is expected. The preliminary results of the analysis were used by the World Bank team in designing specific prior actions for development policy financing (DPF) operation approved by the board of the World Bank in December 2019.