US grants Senegal $540m

Senegal has been awarded an aid grant worth $540 million by the United States’ Millennium Challenge Corporation (MCC). President Abdoulaye Wade announced on Monday at his arrival at Dakar’s airport, returning from a vacation in Europe.

“While I was on the plane before landing, the $540 million was approved for our country,” he said, according to Reuters.

The aid, which is due to run for five years, will help build roads, rural markets, boost agriculture and create economic enterprise zones.

It will be officially launched on September 16.

The MCC programme targets poor countries seen to have a strong economic growth potential because of a record of good governance, commitment to open markets and long-term investment.

Source: Africanews

 

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