Senegal will repay 5.679 billion FCFA this July 29

The Senegalese Ministry of Economy, Finance and Planning announced on Wednesday that the Senegalese government would pay half-yearly interest and partially repay the capital of its bond loan "State of Senegal 6.50% 2013-2023 " for a total amount of 5.679 billion CFA francs or nearly 9.654 million dollars.

Launched on the financial market of the West African Economic and Monetary Union (UEMOA) in June 2013, "State of Senegal 6.50% 2013-2023" is a bond loan by public offering for the amount of 50 billion CFA francs. According to sources close to the case, the funds raised should be used to finance a number of projects in the energy sector, infrastructure and the strengthening of the flood control program.

The loan provides that The issuer, the Senegalese State, pays the subscribers an annual interest rate of 6.50% payable over a period of 10 years over the period 2013-2023.