Gambia’s Finance Minister Reacts to World Bank US$30 Million Grant
The Minister of Finance and Economic Affairs, Mambury Njie has welcomed the World Bank $30 million grant support to The Gambia.
The World Bank has announced Thursday that it has approved the amount to the West Afruican state to improve its debts and public investment management, financial viability and service delivery in the energy and telecom sectors, and enhance the transparency and governance framework of State-Owned Enterprises (SOEs).
“Following the announcement of a US$30 million development policy grant to The Gambia, the Minister of Finance and Economic Affairs, Honourable Mambury Njie, on behalf of the government of The Gambia, has on Friday expressed gratitude to the World Bank Board of Executive Directors for the development assistance,” the statement from the ministry indicated.
‘‘It shows that, as a country, we are doing well economically and have successfully reached the targets set despite the challenges we face,’’ said Hon. Njie while thanking his team and the President of the country, His Excellency, Adama Barrow for creating the enabling environment.
‘‘It is based on the economic performance of the country that we can access all these funds and we hope to be able to sustain this performance.’’
The World Bank grant will help enhance the financial and operational performance of NAWEC to provide cheaper, more reliable, and cleaner energy. Additionally, it will support the restructuring and ring-fencing of the telecom infrastructure to strengthen the digital economy.