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Friday, June 18, 2021

EU GAVE D6.8 BILLION TO BARROW GOV’T

By Nyima Bah

The European Union delegation in The Gambia has disclosed that it has contributed almost 6.8 billion to the national budget of The Gambia since Adama Barrow came to power.

This disclosure came in a statement the delegation issued yesterday announcing the release of €5.55 million (about D338 million) for the budget of The Gambia.

It explained that in response to the outbreak of the Covid-19 crisis, the EU has given the government almost €40 million, equivalent to around D2.4 billion, with this release being the third tranche of the ongoing budget support operation.

“Since the start of the democratic transition in 2016, the EU has contributed almost D6.8 billion to the national budget of The Gambia. Budget support consists of direct financial transfers to the national treasury of The Gambia. These transfers rely on policy dialogue, capacity building, and a performance assessment in areas related to, among others, democratic governance, respect for human rights and the sound management of public finances.

“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”, said Ambassador Corrado Pampaloni, the head of European Union Delegation to The Gambia.

The overall objective of budget support, according to the statement, 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, improved security sector governance, transparent management of natural resources, transitional justice, and the rule of law.

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