Senegal Eurobond

The African Legal Support Facility (ALSF) has been providing legal and technical assistance to the Government of Senegal for its currency swap hedging transaction. The Facility’s support was complimentary to the African Development Bank (AfDB) Group’s partial credit guarantee for hedging of currency risks issued in September 2018. In addition to the legal assistance, the Project featured a closed-door capacity building workshop on derivatives and currency risk hedging agreements with high-level government officials and civil servants. The Facility has been a longstanding partner in the development of sustainable legal capacity in Senegal. The legal and technical assistance from this Project were intended to bolster the Government of Senegal’s “Plan Sénégal Émergent (PSE)” designed to put the country on a path of growth and to eradicate poverty by 2035. This Project is expected to increase the total investment in Senegal through the strengthening of sovereign debt sustainability as envisaged by the PSE.