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Senegal

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Details

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Summary

The Global Shield In-Country Process (ICP) in Senegal is led by the Ministry of Finance and Budget with support from two local consultants. After the launch of the ICP in July 2024, followed by several regional and national consultations, Senegal is one of the most advanced Global Shield Countries that recently submitted its Request for Support in August 2025. Access the Stocktake and Gap Analysis Report here (French). Access the summary version of the Request for Support here. 
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Country facts

Senegal is located in the westernmost part of the African continent with ~18 million inhabitants of whom nearly a quarter live in the Dakar region. The agricultural sector plays a key role in the country's economy, which is dominated by micro and small businesses (an estimated 90% are part of the informal sector).
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Climate risks

Senegal faces significant extreme weather events, such as droughts, floods, coastal erosion, and marine submersion due to heavy swells. These risks have a significant impact on the country's fiscal balance, macroeconomic stability, livelihoods and food security.
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In-Country Process

Senegal recently submitted its Request for Support to the Global Shield with the support of the national committee for sustainable finance.

Global & local partners

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Bassirou Sarr

Director of the Cabinet of Senegal's Minister of Finance and Budget
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Adama Seck

Coordinator of the Cellule d’Études et de Planification (CEP) and Technical Secretary of the Commission of Sustainable Finance, Ministry of Finance and Budget
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Abou Abdoulaye SOW

Economist at the Cellule d’Études et de Planification (CEP), Ministry of Finance and Budget

“The Global Shield enables us to adopt an inclusive approach”

“The Global Shield enables us to adopt an inclusive approach, bringing everyone on board and looking at the problem in its entirety, thus enabling us to come up with a concerted and coherent response.”

Adama Seck

Coordinator of the Cellule d’Etudes et de planification (CEP) and Technical Secretary of the Commission of Sustainable Finance, Ministry of Finance and Budget

Kick-off of In-Country Process

The Global Shield In-Country Process in Senegal is led by the Ministry of Finance and Budget and supported by two local consultants. The ICP was officially launched in July 2024 when the first joint workshop with the World Bank took place in Dakar with a focus on the country’s disaster risk financing diagnostics and the related needs.

Workshops and consultations

As part of the inclusive In-Country Process of the Global Shield, two national workshops with key stakeholders took place in July and November 2024 to analyse existing solutions and remaining gaps in the area of climate and disaster risk financing. The outcomes of the workshops were captured in a thorough stocktake and gap analysis report and complemented by additional bilateral consultations at national and regional level. The report indicates that Senegal is extremely vulnerable to droughts, floods, coastal erosion and marine submersion. The country already benefits from retention and risk transfer mechanisms, but lacks financial protection at meso level, e.g. for MSMEs, amongst others.

Current developments

The Ministry of Finance submitted its Request for Support to the Global Shield in alignment with the recently adopted National Strategy on Disaster Risk Finance.

Four key themes were defined for the Request:

1. Expanding sovereign-level financial protection to strengthen the resilience of institutions and communities to climate risks and disasters

2. Introduction of financial protection mechanisms and products at the sub-sovereign level

3. Strengthening the national protection system for economic actors (MSMEs, financial services and households)

4. Improve the national climate risk governance system by strengthening institutional frameworks, governance of risk data, and the national information/data management system

Updates from Senegal

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Press Release

Strengthening Senegal’s Financial Resilience to Climate Change

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Partner’s Publications and Documents

Strategie Nationale d'Inclusion Financière 2022-2026 - Direction de la Réglementation et de la Supervision des Systèmes Financiers Décentralisés

Inclusive Insurance in Senegal - Insurance Development Forum & Microinsurance Network

Inclusive insurance and risk financing in Senegal. Snapshot and way forward 2024 - UNDP

Sénégal Rapport National sur le Climat et le Développement - World Bank

Sénégal Diagnostic sur le Financement des Risques Climatiques et de Catastrophes 2024 - World Bank

Gender Analysis of CDRFI in Senegal, Centre of Excellence on Gender-smart Solutions