The European Bank for Reconstruction and Development (EBRD) has made a foray into Senegal, after the board approved a trade finance facility of up to €15 million for Ecobank Senegal.
The funding will be channeled to local businesses, particularly small and medium-sized enterprises (SMEs), to access international trade opportunities and the financing they need to grow.
The funding is being provided through the EBRD’s Trade Facilitation Programme, which helps businesses overcome common barriers to cross-border trade.
It will reduce both political and commercial payment risks, making it easier for Senegalese companies to import essential goods and expand into export markets.
Ecobank Senegal will also gain access to the EBRD’s extensive global network of partner banks, as part of the Ecobank Transnational network, opening new opportunities for businesses looking to trade beyond the country’s borders.
“We hope this marks the start of a lasting partnership with Ecobank Senegal,” said EBRD President Odile Renaud-Basso after the agreement was signed, describing the partnership as the beginning of a long-term relationship with Senegal.
“The facility will help local businesses access essential goods, support private sector growth, and strengthen the country’s economic resilience.”
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Beyond the trade finance facility, the EBRD has also launched a dedicated programme to support Senegal’s SME sector. The initiative combines financing with business advisory services and policy support to help strengthen the country’s private sector.
It follows the recent opening of the bank’s resident office in Dakar.
The programme offers several financing options, including credit lines through local banks, risk-sharing facilities for micro and small businesses, financing support for medium-sized companies, and supply-chain finance solutions.
The EBRD’s Trade Facilitation Programme currently operates across 28 economies, partnering with more than 130 issuing banks and over 800 financial institutions worldwide to facilitate international trade.
Senegal officially became an EBRD shareholder and a country of operations last year, reflecting its growing importance as a gateway to West Africa and its strategic role within the West African Economic and Monetary Union.
The Senegal investment also builds on the EBRD’s broader expansion into Sub-Saharan Africa.
Earlier this year, the bank announced its first investment in the region, a US$100 million trade finance facility for Nigeria’s Access Bank.
