Although poverty is widespread and unemployment high in this largely agrarian economy, Senegal is one the more stable countries in West Africa. Senegal's 2013 Human Development Index gives the country a rank of 154 out of 187 countries. National politics have been dominated by tensions between the government and the opposition, due in part to stagnant growth and the global economic slowdown, with a projected sharp downturn in foreign investments for local infrastructure development.
How We Are Helping?
In Senegal, UNCDF has been helping to meet development challenges by promoting decentralization and increased access to financial services for low-income rural populations. The Projet d’Appui au Développement Économique Local en ancrage au Programme National de Développement Local (PADEL/PNDL) supports emerging decentralization processes, with a special focus on local economic development. The strategy provides targeted support to Senegal’s national programme of local development, which is intended to consolidate donor and development partner interventions in decentralization and deconcentration. The project is jointly supported by UNCDF, UNDP, the Government of Senegal, and Luxembourg Development Cooperation.
In inclusive finance UNCDF is implementing the Programme d’appui à la lettre de politique sectorielle (PALPS), which aims to promote increased access for low-income, small and medium enterprises to quality local financial services. The programme helps create sustainable, well- integrated microfinance institutions. This project is jointly supported by UNCDF, UNDP, and the Canadian International Development Agency (CIDA).