Senegal has taken a new step in its economic development with the signing of an agreement for a third compact. This program, which focuses on the blue economy, aims to develop activities related to marine and coastal ecosystems while preserving biodiversity.
On Saturday, Senegal’s Minister of Economy, Planning, and Cooperation, Abdourahmane Sarr, announced the signing of an agreement with the United States under the Millennium Challenge Corporation (MCC), paving the way for a third compact for Senegal, centered on the development of the blue economy.
This new funding program will primarily target economic activities related to marine, coastal, and fluvial-lacustrine ecosystems, with particular attention given to biodiversity preservation. The identified priority sectors include fishing, aquaculture, horticulture, and tourism.
« The blue economy is perfectly aligned with the spirit of the new Senegal 2050 framework, » the minister emphasized on X (formerly Twitter), explaining that this approach will allow « all components of society to benefit through value chains and various infrastructures around coastal cities. »
The minister praised the work of the compact formulation unit, led by Dr. Seydina Sène, which played a key role in defining the priority sectors and developing a consensual vision of the blue economy that integrates coastal cities.
Source: apanews
