By Aminata Kuyateh
The Gambia will require more than $13 billion in climate financing by 2050 as rising environmental threats could slash the country’s GDP by up to 13 percent if urgent action is not taken, World Bank country representative Franklin Mutahakana said at the unveiling of The Country’s Climate and Development Report yesterday.
The report warns that climate change is no longer a future threat but a current economic and development crisis, with flooding, coastal erosion, extreme heat and agricultural decline already affecting livelihoods, infrastructure and fiscal stability.
Mutahakana said natural disasters and climate shocks could reduce The Gambia’s GDP by up to 9.3 percent by 2050 under current pathways, while coastal and urban vulnerabilities, especially in Banjul, place national assets and jobs at growing risk.
“Climate and environmental risks are already affecting The Gambia’s economy, development and job creation,” Mutahakana said, adding that over 90 percent of GDP-linked coastal assets are at risk under severe sea-level rise scenarios.
He said the report estimates climate financing needs exceeding $13 billion by 2050 and stressed that public investment in coastal protection, infrastructure, renewable energy and agriculture must lead efforts to attract private capital and secure long-term resilience.
Mutahakana said climate action should be treated as a core development strategy focused on protecting growth, reducing poverty, creating jobs and safeguarding sectors such as tourism.
Speaking at the event, Vice President Mohammed BS Jallow said The Gambia remains among the world’s most climate-vulnerable countries despite contributing less than 0.01 percent of global greenhouse gas emissions.
“Without urgent intervention, climate change could reduce The Gambia’s GDP by up to 9.3 percent by 2050, increase debt pressure, slow growth and push more people into poverty,” Jallow said.
He noted that over 60 percent of the population lives in exposed coastal and urban areas, while flooding continues to generate major economic losses and Banjul faces mounting sea-level threats.
Jallow said The Gambia will need about $1.8 billion by 2030, $3.1 billion by 2040 and more than $8 billion by 2050 to address climate risks, with private investors expected to provide about 35 percent of required financing.
World Bank Practice Manager Ellysar Baroudy said the country’s economic structure makes climate risks more severe, particularly because agriculture supports most livelihoods while remaining highly vulnerable to weather shocks.
“If current trends continue, climate change could cut The Gambia’s GDP by up to 9 percent by 2040 and 13 percent by 2050,” Baroudy said.
She said lower productivity, crop losses, infrastructure damage and fiscal pressure could deepen poverty unless policy action is accelerated.
Baroudy identified three priorities: protecting Banjul and the Greater Banjul Area through coastal defence and urban planning, preparing safer inland growth centres, and unlocking renewable energy, tourism and agribusiness through stronger infrastructure and investment reforms.
The report concludes that while climate threats pose major economic dangers, early investments in adaptation, resilience, and climate-smart development could significantly reduce projected losses and create new pathways for growth.
