The
President of the African Export-Import Bank (Afreximbank), Dr. Benedict Oramah,
has said that the Afreximbank is ready to invest more than $500m in projects in
The Gambia.
Dr.
Benedict Oramah, who was in The Gambia on a one-day -working visit met with
President Adama Barrow at his office. The discussion centered mostly on the
successful transition and other areas of development.
Speaking
to journalists shortly after wards at his hotel at Senegambia Beach, the
president of the Export-Import Bank said that they are looking at ways of
making an investment of up to $500m. He added the investment will focus mostly
in the area of tourism, transport logistics that will link port expansions and
to making the River Gambia navigable in carrying goods all the way to Senegal
and the sub-region.
“We
are looking at agriculture, especially export agriculture and agro-processing,
with an emphasis on live manufacture so that as we promote exports we can also
promote employment because there are aspects of ports that require the
financial sector to make sure that the banks have access to trade services. As
you are aware many international banks are withdrawing from supporting a number
of African countries because of a rise in compliance costs,” he said.
He
added that they will be sending a technical team as soon as possible because
they, and President Barrow, are in a hurry to start work in the annex.
Speaking
to journalists, the chairman of The Gambia Tourism Board, Bakary K. Jammeh,
also said that they are very happy because they would like to bring tourists
from as far as the United States and other countries as well.
Mr.
Jammeh further highlighted the major challenges for GT-Board, stating that
funding is needed in that area because The Gambia’s tourism is attracting
thousands of tourists.
He
added that if the Export-Import Bank bring that investment there will be mutual
benefit and relationships that could improve the quality of the Board by
bringing more visitors.
