To implement the Developments which were conceived between 1963-1972, the Heads of State and Government in 1972 to decide to terminate the 1963 Convention on the global development of the Senegal River Basin. The purpose was to replace it with an organisation and charge it to raise the necessary resources to build the common works, exploit works to meet production in the social and economic sectors, and ensure that the environment retains its integrity. To address the problems and to realize the potential of the basin, the Senegal River Development Organisation (OMVS) was established by the three of the four riparian states in 1972. The aims were to jointly:-
- Promote inter-country co-operation;
- Co-ordinate technical, economic studies and other activities related to the Senegal river development such as navigation, irrigation, hydropower generation, environmental protection and conservation.
- Regulate river flow for irrigation, navigation, flood control, power generation, domestic and industrial water supply and other purposes.
The Secretariat is financed jointly by the three countries following an agreed formula. Also the loans for the two dams are being repaid on a formula based on the proportion of benefits of the project to the three countries.
The following actions were taken, namely to establish and operationalise the Statutory Agency the mobilization of resources for pre-investment studies, and the adoption of Conventions on common works. Side by side with the establishment of the High Commission, the organisation set out to mobilize funds to complete studies and also pre-investment studies started by the Interstate Committee from which it took over in 1972. By 1974 $12 million had been mobilised for prefeasibility studies, $20 million on the engineering studies of the Diama and Manantali Dams. For the construction the dams a financial package of $700 million was raised from bilateral and multilateral financing sources.
After the completion of the Dams, the following actions had to be taken to realize the benefits of the flow regulations:
- Establish mechanisms and procedures at regional and national levels for integrated socio-economic development.
- Set up agencies to manage the common works (barrages) and associated works in terms of operations, maintenance and renewals.
- Operationalise the Permanent Water Commission.
- Establish a Unit to deal with the environmental problems created by the construction of the dams, creeping desertification and land degradation of the headwaters of the Senegal River in the Futa Jalon mountains.