CDP, AICS and the European Commission: together for Senegal

CDP, AICS and the European Commission: together for Senegal

Cassa Depositi e Prestiti, AICS and the European Commission have joined forces to support the development of the business sector in Senegal, with the aim of reducing irregular immigration and establishing the right conditions for the creation of new jobs.

The PASPED programme is a result of the collaboration between the three institutions and has been financed with 14 million euros from the "La Valletta” European Trust Fund. The initiative runs alongside a second PLASEPRI II project, launched a few months ago, which is the second phase of the bilateral cooperation between Senegal and Italy, developed between 2008 and 2015 with PLASEPRI I.

In particular, a programme of technical assistance for Micro, Small and Medium-Sized Enterprises (SMEs) was launched through PASPED to encourage the development of new entrepreneurship, in particular for women, and support the creation of new jobs for young people.

With PLASEPRI II, local SMEs can benefit from facilitated credit lines for investment targeted at developing the Senegalese business sector and the creation of new jobs.

In pursuing the same goals with complementary tools, the two projects confirm the commitment of Italian and European institutions in supporting Senegal, promoting the local entrepreneurial system and mobilising the Senegalese diaspora through investments in their country of origin.

CDP actively participates in the two cooperation projects and provides technical and financial know-how to update existing instruments and devise new ways to access credit, leveraging a more effective use of EU resources and blending public and private funds.

The aim is to combat the phenomena of poverty and migration from developing countries, encouraging new forms of support for the local entrepreneurial system, in line with the sustainable development goals of the UN's 2030 Agenda.