What are we funding?
GRANT AMOUNT | ENDORSEMENT DATE | ACTIVITIES | INSTRUMENTS SUPPORTED | WB PROJECT |
US$0.2M | - | Using resources under the GSFF grant to support the operationalization of the new national DRF strategy by (i) developing a detailed implementation plan for the strategy; (ii) exploring the feasibility of a public asset insurance program; (iii) reviewing public financial management as it pertains to CDRFI; and (iv) assessing the feasibility of a national disaster response fund. |
| Financial and Private Sector Development Programmatic ASA (P181249) RESET DPF series (P506839)
US$300M (IDA) |
- In recent years, Senegal has made considerable progress in implementing CDRFI tools and approaches. Ongoing World Bank engagement has resulted in a DRF diagnostic, published in 2024, and has led to the adoption of the country’s first national DRF strategy, prepared under the leadership of the Ministry of Finance and Budget through the Sustainable Finance Commission (CoPil-FD). To operationalize the DRF strategy, the country is considering several reforms related to CDRFI and adaptive social protection as part of the proposed World Bank RESET Development Policy Financing series. Critical financial protection gaps identified in the DRF diagnostic and DRF strategy include a lack of insurance coverage for public buildings and critical infrastructure, as well as inadequate CDRFI-related public financial management, which has resulted in a proliferation of emergency response funding mechanisms and delayed disbursement of funds from a drought policy purchased through ARC Ltd.
- GSFF awarded a US$200,000 technical assistance grant to support Senegal in implementing its national DRF strategy. The grant also allows Senegal to explore suitable insurance coverage for its public assets and consider options for setting up a consolidated national disaster response fund and improving the timeliness of disbursements.
- The technical assistance activities also help lay the foundation for additional CDRFI and social protection reforms that have been proposed in the World Bank’s Senegal First Reforms for Economic Stabilization, Enabled Transformation and Transparency (RESET) operation.