The European Union yesterday announced the release of EURO 5.55 million (about 338 million GMD) for the budget of The Gambia, marking 6.8 billion GMD to the country’s national budget since 2016 change of government.
In February 2017, the European Union announced a new chapter of relations with The Gambia, expressing its full commitment to engage with President Barrow and his government.
“We want to be a privileged partner of The New Gambia. In addition to the €75 million package of immediate support signed today, we are already preparing a medium term package of €150 million, which will focus on building the capacities of the State and on job creation," Commissioner Mimica declared.
“With this release of the third budget support tranche under the current State and Resilience Building Contract, the EU encourages the Gambian authorities to continue to improve the management of public finances and supports The Gambia’s national priorities, including in areas related to the electoral processes and constitutional reforms,” Ambassador Corrado Pampaloni, the head of European Union Delegation to the Republic of The Gambia said on Wednesday, May 19th 2021.
The overall objective of budget support is to contribute to sustainable and inclusive growth in The Gambia. Key dimensions are macroeconomic stability, efficient and accountable use of public funds, gender equality, improve security sector governance, transparent management of natural resources, transitional justice, and the rule of law.
Following Commissioner Mimica’s visit to The Gambia where he met President Barrow at Fajara, she described it as “a clear signal of the EU's readiness to provide immediate financial and technical support to the democratic process in The Gambia and its dividends for the population in terms of good governance, respect for human rights and the rule of law.”#
The EU also stepped up its support to sustainable and inclusive development of the country in close consultation with the new authorities. The EU has maintained commitment to support progress regarding democracy, human rights, good governance and sustainable and inclusive development in The Gambia since then.