Gambia Raises €1.45 Billion To Finance National Development Plan

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To support The Gambia’s National Development Plan (NDP) for the period 2018-2021, major international organisations have pledged 1.45 billion euros ($1.7 billion) at the conference organised by the country and co-hosted by the European Union in Brussels with delegations from 43 countries and ten international organisations.

Since taking office and discovering government coffers were largely empty, President Adama Barrow’s administration has been sourcing for funds and working to resuscitate the debt-crippled economy of the Gambia.

“At present, the total cost of the flagship [projects] stands at 2.4 [billion euros] with a financing gap of 1.6 [billion euros]. It is this financing gap that I am presenting to you for funding. Given the economic challenges we have inherited and the numerous development issues to address, the effective implementation of the national development plan requires significant donor support,” the Gambian President, Adama Barrow, told participants at the conference.

Numerous important pledges were announced for the NDP’s implementation. The total amount of pledges stands at EUR 1.45 billion, for the next 3 years of which the EU is contributing with an announcement of EUR 140 million in grants, which comes on top of the EUR 225 million already committed.

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  1. Pingback: President Barrow Back Today, VP Calls for Rousing Welcome - SunuGambia

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