The
Honorable Minister of Finance and Economic Affairs, Abdou Kolley, signed a loan
and a grant finance agreement with the International Development Association
(IDA ) on 18 October 2016 in Washington
D.C , United States of America.
The
loan is for the IFMIS Additional
Financing, with an amount of USD5,000,000.00 (five million United states
Dollars) by the International
Development Association to go towards supporting human resources and
payroll management, aid the preparation
of an Energy National study, further strengthening of the national statistical
capacity and the government state-owned Enterprises Reform Programme.
The
grant component is provided to the Ministry of Basic and Secondary Education
for the Gambia Results for Education Achievement and Development project
(READ), with an amount of USD 8,500,000.00 (Eight million five hundred thousand
United States Dollar).
It
is earmarked to increase access to basic education, improve quality of teaching
and learning in lower basic schools, and strengthen education system.
This
will finance the construction of approximately 40 multi-grade schools, cover
teachers’ salaries and stipends, and school grants as well as additional
support to Early Child Development classroom to lower basic schools especially
in remote communities.
Furthermore,
it will strengthen the Education system with a focus on government and
management.
In
a separate engagement, the minister of Finance and Economic affairs signed a
grant agreement with the Islamic Development Bank (IsDB) to the tune of USD
278,500.00(Two hundred seventy- eight thousand and five hundred United States
Dollars). The grant is meant to provide assistance in strengthening Rural
Community Adaptation to climate change in The Gambia.
The
honorable minister was accompanied to both signing ceremonies by the governor of Central Bank of The Gambia
Mr Amadou Colley , Mr Lamin Camara, permanent secretary, and Mr Baboucarr Jobe,
Director of Economic Policy and Research
at the Ministry of Finance and Economic Affairs.
