71500 Republic of Senegal: Electricity Sector Support Project (ESSP) SUMMARY OF DISCUSSION∗ Meeting of the Executive Directors July 26, 2012 Executive Directors approved a Credit in the amount of SDR 56.3 million (US$85 million equivalent) to the Republic of Senegal on the payment terms and conditions set out in the President’s Memorandum (IDA/R2012-0180). Directors expressed support for the project, which would contribute to reducing the National Power Utility of Senegal’s (SENELEC) technical and commercial losses, and improving the reliability of electricity services in the country. Directors noted the crisis in the electricity sector and look forward to the adoption of a new comprehensive medium term strategy to address the bottlenecks in the sector, economic growth, and poverty alleviation. Directors emphasized the need to invest in energy infrastructure, diversify the sector, and address tariff issues. They also highlighted the need to progressively reduce the budgetary transfers to the sector and strengthen governance in the sector. Finally, Directors encouraged close donor collaboration. ∗ This summary is not an approved record.