Senegal - Resource Mobilisation and Investment Attractiveness Institutional Support Project (PAIMRAI) (AFDB-P-SN-KA0-015)

Countries
  • Senegal
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • African Development Bank (AFDB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Active
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
U
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Jul 17, 2019
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
GOUV. DU SENEGAL /MINISTERE DE L'ECO. DES FINANCES ET DU PLAN
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Industry and Trade
The service or industry focus of the investment. A project can have several sectors.
Investment Amount (USD)
$ 7.80 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Currency conversion note:
Bank reported U.A 10,840,000
Converted using 2019-07-17 exchange rate.
Bank Documents
Primary Source

Original disclosure @ AFDB website

Updated in EWS Jun 14, 2020

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

The Resource Mobilisation and Investment Attractiveness Support Project (PAIMRAI) is designed to assist Senegal in its efforts to foster strong, sustainable and job-creating economic growth. Specifically, it involves building resource mobilisation capacity to promote competitiveness in the direction set out in the Emerging Senegal Plan (PSE). The project will focus on the effective implementation of reforms in special economic zones, the preparation of a new investment code as well as on industrial competitiveness policy. The dual fiscal challenge is to improve revenue while promoting investments. Hence, the project has three (3) complementary components: (i) strengthen tax policy and administration of financial authorities for revenue mobilisation (ii) competitiveness and structuring of PSE strategic projects, and (iii) project management. Project activities will last 48 months, with an estimated total cost of UA 12.04 million, net of taxes and customs duties.

The project's overarching objective is to strengthen the capacity to mobilise domestic resources for Emerging Senegal Plan (PSE) financing, and to enhance investment competitiveness and attractiveness in key sectors.

The project's main direct beneficiaries are the State structures that will be provided with institutional capacity building, including Directorate General for Taxes and Lands (DGID), Planning and Economic Forecasting Department (DGPPE), General Directorate of Public Accounting and Treasury (DGCPT), Public Expenditure Authorisation Directorate (DODP), Operations Monitoring Office (BOS), National Agency for Investment and Major Works Promotion (APIX), the Senegalese Standards Association, the Ministry of Industry and the Ministry of Economy. The indirect beneficiaries will be taxpayers, whose tax transaction costs will be reduced, and the Senegalese people through the jobs created by investments attracted.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

ARVANITIS Yannis

y.arvanitis@afdb.org

ACCOUNTABILITY MECHANISM OF AfDB

The Independent Review Mechanism (IRM), which is administered by the Compliance Review and Mediation Unit (CRMU), is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an African Development Bank (AfDB)-financed project. If you submit a complaint to the IRM, it may assist you by either seeking to address your problems by facilitating a dispute resolution dialogue between you and those implementing the project and/or investigating whether the AfDB complied with its policies to prevent environmental and social harms. You can submit a complaint electronically by emailing crmuinfo@afdb.org, b.kargougou@afdb.org, b.fall@afdb.org, and/or s.toure@afdb.org. You can learn more about the IRM and how to file a complaint at https://www.afdb.org/en/independent-review-mechanism/.

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