The Gambia government has begun repaying a D563.8 million loan linked to the procurement of buses for the Gambia Transport Service Company (GTSC), with the first principal and interest payment made in May 2026.
The Minister of Finance and Economic Affairs, Seedy Keita, disclosed this during a question and answer session at the National Assembly in response to a question from the Member for Brikama South on the repayment plan and commencement date for the loan advanced by the Social Security and Housing Finance Corporation (SSHFC).
According to the minister, the D563,779,771.50 financing arrangement, representing 50 per cent of the relevant loan settlement, will be repaid through 10 equal semi-annual principal instalments of D56,377,977.15, alongside declining interest payments.
Keita told lawmakers that the repayment schedule commenced on 30 April 2026 and is expected to end on 30 October 2030.
He said the first principal and interest instalment, which was originally due on 30 April 2026, was paid on 12 May 2026.
Following the minister’s statement, a parliamentarian asked how much the government had repaid in total since the commencement of the repayment period.
In response, Keita reiterated that the first instalment had been paid in May and said the repayment schedule was being implemented as planned.
However, the minister did not provide the total amount paid to date when asked for further details.
The loan was advanced by the SSHFC to support the procurement of buses for GTSC, a public transport company that provides transportation services in The Gambia.
The repayment arrangement forms part of the government’s financial obligations to the social security institution, which manages contributions and investments intended to support its members and beneficiaries.
With the repayment period scheduled to run until October 2030, the government is expected to continue making payments every six months in accordance with the agreed schedule.
