USAID Signs Loan Agreements With Senegalese Banks

The American government, through the Agency for International Development (USAID), signed loan agreements with three banks to provide loan guarantees for small- and medium-sized enterprises in Senegal on September 26, 2007.  The signing by USAID Director Kevin Mullally took place at the Chamber of Commerce, Industry and Agriculture in Dakar.  Chargé D'Affaires Jay T. Smith offered remarks. The $10 million loan guarantee is to encourage commercial banks to lend more to small- and medium-sized enterprises engaged in the clusters within Senegal’s Accelerated Growth Strategy.