The
World Bank Group (WBG) reaffirmed on June 12, its continuous support for the
nation with its Country Engagement Note (CEN) for The Gambia for 2018-2021,
proposing a focused program to address critical needs during the country’s
transition, while laying the foundation for longer-term inclusive growth.
“The World Bank has acknowledged the
importance of immediate government priorities to restore macro-economic
stability and economic governance, while at the same time strengthening basic
services, and protecting the poor and vulnerable. The World Bank Group looks
forward to continuing working with authorities and donors to support the
Government’s reform agenda,” said Louise Cord, World Bank Country Director for
Senegal, Cape Verde, The Gambia, Guinea Bissau, and Mauritania.
Through the combination of budget support and
investment operations, the CEN aims to stabilize the economy, improve fiscal
performance and governance, address bottlenecks in energy, as well as
strengthen service delivery and social protection. Recognizing the need to invest in human
capital, the WBG will continue to assist with enhancing the access to and
quality of education, strengthening healthcare, and improving nutrition in
response to the food security crisis linked to the recent drought. The CEN is
closely aligned with The Gambia’s National Development Plan 2018-2021.
Moreover, The Gambia qualifies for exceptional
International Development Association support and allocation of additional
resources, which will be used to scale up support for energy, state-owned
enterprise reform, social protection and agricultural transformation.
The WBG program also aims to promote private
sector-led inclusive growth through supporting critical foundations such as
logistics, the financial sector and investment climate. Advisory services and
investments will be provided to modernize and diversify key sectors with
potential to raise household incomes and support both local and international
companies expanding their operations in the country.
“Since 1984, IFC has engaged across multiple
sectors in The Gambia including tourism, agribusiness, education, transport and
warehousing. We are now determined to scale up our investment and advisory
support to create more opportunities in the country, with a focus on financial
markets, the services sectors and Public Private
Partnerships,” said Faheen Allibhoy, IFC
Country Manager for The Gambia, Cape Verde, Guinea Bissau, Mauritania and
Senegal.