74637

                                     Republic of Senegal
                         First Governance and Growth Support Credit

                                SUMMARY OF DISCUSSION∗

                           Meeting of the Executive Directors of IDA

                                           December 20, 2012



      Executive Directors approved the First Governance and Growth Support Credit to the
Republic of Senegal in the amount of SDR 35.8 million (55 million USD equivalent) on the
payment terms and conditions set out in the President’s Memorandum (IDA/R2012-0292).

       Directors welcomed the focus on strong governance and sound government
accountability and transparency as core principles in improving service delivery and laying the
ground for accelerated economic growth. They underscored the critical need to maintain a solid
macroeconomic policy framework, to strengthen the investment climate, to accelerate reforms in
the energy sector, and to put a renewed focus on efficiency gains in the management of public
spending in education and health. Directors noted the importance of effective donor
coordination on key strategic issues including energy sector development.

      Directors look forward to discussing the Country Partnership Strategy for the period
FY13 -17 aligned with Senegal’s National Strategy for Economic and Social Development.




∗
 This summary is not an approved record.