The agreement was finalised in Riyadh, Saudi Arabia, by Finance Minister Seedy Keita and BADEA President Abdullah Al-Musabbeh, according to the Ministry of Information, Media and Broadcasting Services.
Officials say the financing will provide Gambian importers with greater access to funds, helping maintain supplies in the domestic market while supporting trade and broader economic activity.
βThis is really good for Gambian businesses, but also for Gambian trade and commerce,β the Information Minister said. He added that the facility could help importers navigate disruptions in global supply chains and ensure that essential goods remain available to consumers.
The deal comes at a time of heightened concern over international shipping routes, with the ongoing conflict in the Middle East affecting major trade corridors, including the Strait of Hormuz. The minister noted that these disruptions have placed additional pressure on the movement of goods and commodities worldwide, making the facility particularly timely.
Analysts suggest the agreement underscores the importance of regional partnerships in safeguarding economic stability and ensuring that essential imports continue to reach Gambian households.
