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Gambia, OPEC Fund sign $5M loan agreement for Education sector

Aug 19, 2014, 9:53 AM

The Gambia government and the OPEC Fund for International Development (OFID) signed a US$5 million loan agreement on 13 August 2014 in Vienna, Austria.

A news release announced that it was signed by OFID director-general Suleiman J. Al-Herbish and Kebba S. Touray, the minister of Finance and Economic Affairs.

According to the release, the US$5 million loan is “for the Basic and Secondary Education Schools Project, which aims at enhancing the quality of education in the Western Region of The Gambia through the construction/rehabilitation and furnishing of some 220 classrooms, and the construction of three libraries and numerous laboratories and sanitary facilities, among other improvements.

“Upon completion, an estimated additional 10,000 children, many of them from deprived families, will have access to improved schools and education”.

“The ultimate goal is to support the creation of an enabling environment for teaching and learning in the basic and secondary schools and to improve access to better quality education across the country”, it added.

OFID aid to The Gambia started since 1976, when OPEC provided balance of payments support.

Since then, OPEC has provided loans and grants to the country totalling US$ 103 million to support the country’s agriculture, education energy, health, transportation, and urban development sectors, the release further stated.