EU Disburses 22 Million Euros of Budget Support to The Gambia
The European Union has announced on Thursday that it has disbursed 22 million euros to the national treasury of The Gambia as part of budget support and technical assistance programs for the successful implementation of National Development Plan (NDP).
In a statement issued to the press, the aid will also cover the ongoing political and legislative reforms which are required to consolidate democracy and the sound management of public finances for the benefit of the population of The Gambia.
“On 19 December 2019, the EU transferred a tranche of 22 million euros to the National Treasury of The Gambia, as per the State and Resilience Building Contract agreed between the European Union (EU) and the Government of The Gambia,” stated in the statement.
The EU and The Gambia have intensified their relations since 2017. According to the aid provider, the European Union has so far transferred a total of 77 million euros in grant financial assistance to The Gambia to support reforms to improve its governance, public financial management and service delivery in the country.
“EU Budget Support involves the transfer of funds directly to the National Treasury of The Gambia. EU-funded Technical Assistance helps to improve the overall capacity of Gambian administration to better manage its public finances,” the release stated.
The EU emphasized that the budget support and technical assistance programs are accompanied by a broad and intensive political and policy dialogue between the EU and The Gambia.
By these supports, the EU says it contributes to the short-term stabilization of public finances and to consolidating good economic and financial governance, the improvement of transparency and accountability while simultaneously supporting the ongoing political and legislative reforms.
“With this programme of Budget Support and Technical Assistance the EU encourages the Gambian authorities to continue to improve the management of public funds with the aim of advancing its National Development Plan,” says Ambassador Attila LAJOS, the Head of Delegation to the Republic of The Gambia.