UNCDF has been present in Senegal since 1981, promoting decentralization and increased access to financial services for low-income, rural populations.
Today, UNCDF offers “last mile” finance models that unlock public and private resources, especially at the domestic level, to reduce poverty and support local economic development.
In Senegal, rapid urbanization has incentivized UNCDF to pilot its Municipal Investment Finance (MIF) programme and to develop financing instruments that diversify and aggregate municipalities’ financial base.
Senegal is also one of the countries where UNCDF implements its Mobile Money for the Poor (MM4P) programme in partnership with the Swedish International Development Agency (Sida), Australian Department of Foreign Affairs and Trade (DFAT), Bill & Melinda Gates Foundation and The MasterCard Foundation. MM4P provides support to digital financial services (DFS) in a select group of Least Development Countries (LDCs) to demonstrate how the correct blend of financial, technical and policy support can build a robust DFS ecosystem that reaches low-income people in LDCs.