#National News

Foreign financing contribution to increase as Gambia hosts OIC summit

Nov 18, 2022, 10:07 AM | Article By: Jankey Ceesay

Seedy Keita, Minister for Finance and Economic Affairs has said that the contribution of foreign financing for development projects is expected to increase in the fiscal year, 2023 as The Gambia hosts the OIC Summit. 

“This includes the upgrading and expansion of Bertil Harding highway with additional construction of 50km urban roads,” he added.

Mr Keita elaborated that infrastructure development in particular road infrastructure is also featured meaningfully in the 2023 budget. “This is expected to finance ongoing and newly proposed rural road projects, which include Kiang West Roads, Niumi-Hakalang Road, Kiang West Phase II and a host of other rural projects to be financed through the 2023 budget from Government (GLF) coffers,” he said.

He addedthat: “In what could be viewed as reformist and a practical demonstration of innovative programming, Government will in the 2023 budget take bold steps to build capacities of rural communities – particularly through the Programme for Accelerated Community Development (PACD) and sustainable infrastructural development.”

He assures that practical and tangible support will be extended to all sectors of the economy. The Budget will also reaffirm his ministry’s national commitment to leave no one behind by enhancing their social protection response programmes in collaboration with the development partners, he also said.

He made the statement while submitting the Estimates of Revenues, Recurrent and Development Expenditures for fiscal year 2023 tabled before the National Assembly for consideration and approval.