The project is well aligned with IFC's strategy and country priorities, as limited access to finance has been identified as a major obstacle to private sector growth in Senegal (Country Private Sector Diagnostic). MSMEs in Senegal have mostly been excluded from access to financial resources and business opportunities despite positive economic growth observed in Senegal over the past few years prior to the COVID-19 pandemic. The project will focus on the financial inclusion of the most vulnerable segments of the population – women, the youth and MSMEs, including informal firms. It is expected that, thanks to the adoption by local financial institutions (banks, MFIs) of technology and alternative data in their credit evaluation processes, more and more MSMEs, especially informal firms, will access affordable financial products and services and in a more convenient and cost-effective fashion (with reduced transaction costs and shorter loan processing turnaround time). This will translate into increased business opportunities, investments and revenue for beneficiary firms, as well as a reduction in unemployment at country level, and improvement of livelihoods. Private sector driven job creation is key for the structural transformation of the Senegalese economy. On the supply side, the project will provide MFIs with innovative technology-based tools for credit risk assessment, thereby allowing them to make significant savings on usually high operational costs associated with servicing risky segments.

Indicator	Calendar Year 2020 Results	Cumulative Results as of 2020
Number of workshops, training events, seminars, conferences, etc.	Not Available	Not Available
Number of participants in workshops, training events, seminars, conferences, etc.	Not Available	Not Available
Number of women participants in workshops, training events, seminars, conferences, etc.	Not Available	Not Available

Performance Standard	Description and Potential Impact	Mitigation
PS 1. Assessment and Management of Environmental and Social Risks and Impacts	The sustainability framework and in particular the performance standards governing IFC's operations have been shared and discussed with clients, as part of the cooperation agreement process.	The team will closely monitor compliance with IFC's Environmental and Social Risks framework, and provide regular guidance and advice to the client on the principles of the Performance Standards to ensure project activities are on track in this respect.