While consulting with the Joint Committee of Finance, the Public Accounts Committee, and the Education Committee, Minister Gomez stated that the Bill advocates for equal opportunities across various demographics and regions in the country, recognising the existing disparities in access to resources and opportunities.
It could be recalled the Bill was presented sometime last year before lawmakers before it was sent for a thorough review.
Consequently, Minister Gomez stated that supporting the bill promises a significant economic and social benefit, reducing financial barriers for low-income students and offering targeted support to women and differently-abled individuals.
Additionally, he stated that graduates are expected to fill critical skill gaps and drive economic growth, empowering Gambians to take control of their development instead of depending on external loans.
Furthermore, Minister Gomez emphasised the importance of strengthening human capital development to address the skills gap in the nation. He stated that the goal is to empower more Gambians to pursue higher education in critical fields that contribute to national development.
He proposed establishing a self-replenishing revolving fund to promote financial sustainability and reduce reliance on government grants over time.
“Since the founding of the Ministry of Higher Education, Research, Science, and Technology (MOHERST), the National Assembly has allocated annual funding for educational initiatives, but repayment mechanisms have been lacking. The new scholarship strategy aims to ensure inclusivity, especially for underprivileged groups, by introducing a repayment model for beneficiaries,” he outlined.
Gomez mentioned that the proposed bill includes a revolving fund, funded by the government and managed by a dedicated board. Loans will be available to eligible Gambian students, prioritising girls, women, and persons with disabilities while aligning with national goals in Science, Technology, Engineering, and Mathematics (STEM).
“A structured repayment system will allow graduates to repay loans based on income levels, with bonding agreements to ensure accountability for taxpayer money. This initiative is designed to enhance access to higher education, driving national productivity and economic growth, as seen in countries like Rwanda and Ghana,” Gomez emphasised.
Prof Gomez outlined that the bill accords with the National Development Plan (NDP), which highlights human capital development and supports the strategic plan of MOHERST for 2021-2025, focusing on equitable access to higher education. The proposal complements existing legislation, such as the Tertiary and Higher Education Act of 2016.
“Financial sustainability will be strengthened through the repayment system and partnerships with financial institutions, enabling broader support from other agencies and donors. While challenges may arise regarding public perception of student loans, ongoing arrangement with stakeholders aims to promote an understanding of the initiative's benefits.”
