ITFC Approves Murabahah Financing to Aid Consistent Electricity Supply in Senegal

A EUR 100 million Murabahah financing has been approved by the International Islamic Trade Finance Corporation (ITFC) to Senegal National Power Company (SENELEC).

Why it Matters?

This financing will help meet rising electricity demand, improve power supply dependability, decrease losses and increase access to previously unserved areas. The facility will cover over 20% of SENELEC's financing needs for the acquiring of refined petroleum products, which will have a direct influence on the country's electrical energy generation, transmission and distribution.

Details

This aids the Senegalese Government's efforts to provide consistent electricity supply and provide the necessary energy for the development of all economi...