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Tuesday, October 3, 2023

Gambia to get €1.45 billion

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The international community has pledged a total of EUR 1.45 billion to The Gambia for the next 3 years of which the EU is contributing EUR 140 million in grants.

The grants come on top of the EUR 225 million already committed.

This development was revealed in Brussels where the European Union yesterday hosted a donor conference for The Gambia.

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According to a statement from the organizers, during the conference, the Government of The Gambia confirmed its commitment to transforming the country into a new Gambia: a country with strong democratic institutions that respects and protects human rights, and enjoys economic growth and sustainable development. Laws establishing a Human Rights Commission, a Constitutional Reform Commission and a Truth, Reconciliation and Reparations Commission have been passed; a thorough security sector reform is being prepared as well.

The new government, true to its commitments, took decisive steps including in reaffirming its membership of the ICC. The conference provided an excellent opportunity to the international community to express its support, both at political level and in financial terms, to The Gambia that is undergoing a historic democratic transition. The commitment of the Gambian government to transform the country to a “new Gambia” and a beacon of democracy was saluted by all. The gathering also reconfirmed the important role of joint efforts by domestic, regional and international actors in supporting the country in its journey towards democracy, stability and sustainable development.

Together with other international organizations, the EU has stood by the side of The Gambia through political and financial support and remains committed to continuing this support. The current government has inherited an unsustainable debt situation, which severely limits the funding of the Country’s National Development Plan, the launching of necessary reform initiatives and the swift achievement of tangible improvements in the living conditions of the population. This situation implies the need for raising grants or highly concessional borrowing to contribute to the funding of the National Development Plan while reducing debt vulnerabilities.

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The Conference confirmed that it is crucial for the country to have the necessary means to further pursue reforms and investments in services and infrastructures that will allow tangible improvements, in particular concerning job creation.

The Government of The Gambia and the European Union extended gratitude to the participants of this conference for their important political and financial contribution in support of the democratic and economic transition in The Gambia.

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