The World Bank Group has approved a $45 million grant for The Gambia, aimed at supporting the country’s domestic revenue mobilization, infrastructure development, regulatory reforms, and climate resilience efforts. The funding comes from the International Development Association (IDA) and is intended to help lay the groundwork for stable economic growth and job creation.
According to Ephrem Niyongabo, World Bank Economist and Task Team Leader of the project, "The Gambia is on a good growth trajectory despite the external shocks of recent years, but growth remains fragile due to a combination of structural weaknesses including climate vulnerability. To sustain its growth and improve the living standards of the population, it is essential for The Gambia to pursue and accelerate transformational reforms."
This operation marks the first time that policy support will directly underpin broad-based reforms in The Gambia. It centers on three main areas: expanding government revenue by widening the tax base; encouraging private sector-led growth by addressing barriers in sectors like energy and telecommunications while also focusing on skills development for women and youth; and improving resilience against climate challenges through stronger institutional frameworks.
Franklin Mutahakana, World Bank Group Resident Representative in The Gambia, stated: "This financing will enable The Gambia to carry out reforms to build fiscal space, facilitate the development of key sectors, improve human capital and business environment to enhance participation of the private sector in the economy. The proposed operation provides a critical line to improve access to essential services, enhance women and youth employment opportunities while enhancing environmental sustainability.”
The initiative aligns with priorities set out in The Gambia’s Recovery-Focused National Development Plan for 2023-2027. As part of this plan, there is an emphasis on green and inclusive development by integrating climate adaptation measures into national planning processes.