Announcement of IDA Approves Three Million Three Hundred Thousand Dollars Credit to Senegal for a Power Engineering and Technical Assistance Project on May 23, 1980

FOR IMMEDIATE RELEASE . World Bank 1_ 818 H Street, N.W., Washington, D.C. 20433, U.S.A.• Telephone: (202) 477-1234 IDA NEWS RELEASE NO. 80/80 May 23, 1980 IDA APPROVES $3.3 MILLION CREDIT TO SENEGAL FOR A POWER ENGINEERING AND TECHNICAL ASSISTANCE PROJECT The International Development Association (IDA), the World Bank affiliate for concessionary lending, has approved a credit of $3.3 million to the Republic of Sen~gal for an engineering and technical assistance project. The $4 million project will help the Senegalese government to prepare a national energy plan. It is designed also to strengthen the institutions in the power sector and improve its accounting systems and procedures. The project, which will be carried out over a three-year period, will ensure a rational medium-term development of Senegal's major power generating • facilities. It will include a study to determine the optimal organization of the power sector, including proposals for the creation of a single national organization to replace the two existing companies--Electricite du Senegal and Societe Senegalaise de Distribution d'Energie Electrique. Financial studies and external audits of the two companies will be undertaken as well as a design of headquarters for the future national company. The IDA credit will support the funding of a tariff study, which will make recommendations on the structure and level of electricity tariffs. It wi 11 also fund technical assistance to develop a national energy plan and improve power planning, and provide scholarships for energy planning. Electricite du Senegal and Societe Senegalaise de Distribution d'Energie Electrique (28, Rue Vincens, Dakar, Telex: 661 KARELEC SG) will supervise the execution of the project and will contribute $700,000 towards its cost. The IDA credit is for 10 years, including 3 years of grace. It wi 11 carry no interest but will bear a service charge of 3/4 of 1% per annum to cover administrative costs. NOTE: Money figures are expressed in U.S. dollar equivalents . •